Document:

EX-10.7

 Exhibit 10.7 

Execution Copy 
 Certain confidential
information contained in this document, marked by [***], has been omitted because Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if
publicly disclosed. 
 COLLABORATION AND LICENSE AGREEMENT 

THIS COLLABORATION AND LICENSE AGREEMENT
(“Agreement”) is entered into as of January 15, 2020 (the “Effective Date”), by and between Dermavant Sciences GmbH, a company incorporated under the laws of
Switzerland, and having an address at [***] (“Dermavant”) and Japan Tobacco Inc., a company incorporated under the laws of Japan and having its principal place of business at [***]
(“Licensee”). 
 RECITALS 

WHEREAS, Licensee and its Affiliates are engaged in the research, development and commercialization of
pharmaceutical products in Japan; 
 WHEREAS, Dermavant is developing, and possesses certain
intellectual property rights and other proprietary information related to, its proprietary drug candidate known as tapinarof or DMVT-505 in certain dermatology indications, as well as other drug candidates of
potential use in dermatology; and 
 WHEREAS, Licensee desires to obtain, and Dermavant is willing to
grant to Licensee, (a) a license to research, pre-clinically and clinically develop and commercialize tapinarof in one or more specified formulations in dermatology indications in Japan and
(b) certain rights and options to negotiate with Dermavant to obtain additional licenses to develop and commercialize other Dermavant products in dermatology indications in Japan; in each case, on the terms and subject to the conditions set
forth in this Agreement. 
 AGREEMENT 

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

	1.	 DEFINITIONS 

1.1 “Accounting Standards” shall mean with respect to a party (a) generally accepted accounting principles (GAAP)
in U.S. or Japan, or (b) International Financial Reporting Standards (IFRS); in each case, as consistently applied throughout the organization of such party and its Affiliates. 

1.2 “Act” shall mean, as applicable, the United States Federal Food, Drug and Cosmetic Act, 21 U.S.C. §§301 et
seq., and all related rules, regulations and guidelines, as any of the foregoing may be amended from time to time. 
 1.3
“Adjustment Event” shall have the meaning provided in Section 5.5(b). 
 1.4
“Affiliate” shall mean, with respect to any Entity (including a party to this Agreement), any other Entity controlled by, controlling, or under common control with such Entity. For the purposes of this definition, the term
“control” (including, with correlative 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
meanings, the terms “controlled by” and “under common control with”) shall mean direct or indirect ownership, including ownership by one or more trusts with substantially the
same beneficial interests, of 50% or more of the outstanding voting and equity rights of such Entity, or possession of the power to direct the management and policies of such Entity.     

1.5 “Allocable Cost” shall have the meaning provided in Section 8.10. 

1.6 “Anti-Corruption Laws” shall mean the U.S. Foreign Corrupt Practices Act (15 U.S.C.
§§78dd-1, et seq.), as amended, the Organization for Economic Co-operation and Development (OECD) Convention on combating bribery of foreign public
officials in international business transactions, and any other applicable anti-corruption laws. 
 1.7 “Applicable
Laws” shall mean the applicable provisions of any and all national, supranational, regional, state and local laws, treaties, statutes, rules, regulations, administrative codes, guidances, ordinances, judgments, decrees, directives,
injunctions, orders, permits of or from any court, arbitrator, Regulatory Authority or governmental agency or authority having jurisdiction over or related to the subject item, including (to the extent applicable) the Act, Anti-Corruption Laws and
Export Control Laws. 
 1.8 “Approved Combination Research” shall have the meaning set forth in Section
4.4(a). 
 1.9 “Assigned Dermavant Collaboration Know-How” means any
Information or Invention relating to Product or Compound that is developed or invented during the Term in connection with the performance of any research or development activities for Product or Compound in an Existing Formulation for the treatment
of Atopic Dermatitis or Psoriasis.  
 1.10 “Assigned Dermavant Collaboration Patent” means any Patent that
claims or covers any Invention within the Assigned Dermavant Collaboration Know-How. 

1.11 “Assigned Dermavant Collaboration Technology” means the Assigned Dermavant Collaboration Patents and the Assigned
Dermavant Collaboration Know-How. 
 1.12 “Atopic Dermatitis” means atopic
dermatitis in infants, children, young adults, adults and/or the elderly. For clarity, atopic dermatitis in infants, children, young adults, adults and/or the elderly, whether for mild, moderate, severe or other forms of the disease, shall not be
deemed to be separate or distinct indications, and shall individually or collectively be considered Atopic Dermatitis. 
 1.13
“Business Day” shall mean any day except a Saturday, Sunday or any other day on which commercial banks in New York, New York, U.S. or Basel, Switzerland with respect to Dermavant obligations or Tokyo, Japan with respect to
Licensee obligations are authorized or required by law to remain closed. 
 1.14 “CDMO” means a Third Party contract
development and manufacturing organization, or other organization that provides laboratory or packaging services in connection with the chain of manufacture or supply for a given product. 

  
 2. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 1.15 “C.F.R.” shall mean the United States Code of Federal
Regulations. 
 1.16 “Change of Control” means, with respect to a party, that: [***].  

1.17 “Clinical Supply Agreement” shall have the meaning provided in Section 6.2. 

1.18 “CMC” shall mean chemistry, manufacturing and controls information required as part of an IND, NDA or MAA. 

1.19 “Combination” means (a) a single pharmaceutical product, in any dosage strengths, formulations and methods
of administration, that combines the Compound and one or more other active ingredients in fixed dose combination (a “Combination Product”), (b) a combination treatment that includes Product and at least one product containing
additional active ingredient that is not co-formulated with the Compound but is approved (or being developed for approval) for use in combination and that is sold (i) in a single package containing
separate dosage forms of Product and the additional active ingredient or (ii) in a bundle of separate packages at a single price (a “Combination Treatment”), or (c) a combination therapy that includes Product and at least
one product containing additional active ingredient that is not co-formulated with the Compound but is approved (or being developed for approval) for use as part of a single course of treatment and is sold
separately, potentially by different Entities (a “Combination Therapy”). For clarity, performance of a drug-to-drug interaction study shall not, in
itself, constitute development of a Combination and an approval that a Product is safe for use in connection with a second product (as opposed to an approval based on the efficacy of use of a Product in connection with a second product) shall not,
in itself, create a Combination. 
 1.20 “Combination Product” shall have the meaning set forth in the definition of
“Combination”. 

  
 3. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 1.21 “Combination Research
Know-How” means any Information or Invention that is developed or invented by or on behalf of either party or its Affiliates, (or in the case of Licensee its Sublicensees’), whether solely or
jointly (including jointly with the other party or its Affiliates) in connection with the performance of any Approved Combination Research. 

1.22 “Combination Research Patent” means any Patent that claims or covers any Invention within the Combination
Research Know-How. 
 1.23 “Combination Research Technology” shall mean the
Combination Research Patents and the Combination Research Know-How. 
 1.24
“Combination Therapy” shall have the meaning set forth in the definition of “Combination”. 
 1.25
“Combination Treatment” shall have the meaning set forth in the definition of “Combination”. 
 1.26
“Commercial Supply Agreement” shall have the meaning provided in Section 6.3. 
 1.27 “Commercially
Reasonable Efforts” shall mean, with respect to the efforts to be expended by a party with respect to any objective, [***] taking into account efficacy, safety, approved labeling, the competitiveness of alternative products in the
marketplace (excluding such party’s or its Affiliates’ products), the patent and other proprietary position of the product, the likelihood of regulatory approval, the profitability of the product (including the amount equal to Cost of
Goods plus a mark-up of [***] of such Cost of Goods, but excluding any other amounts owed under this Agreement), and other relevant technical, legal, scientific and medical factors. As used in this
Section 1.27, [***]. 
 1.28 “Competitive AD/PS Program” shall mean any program of clinical development or
commercialization directed to (a) a prescription product containing [***]. 
 1.29 “Competitive Product” shall
mean any product containing [***] as a primary mechanism of action for use in the Field (other than the Product). 
 1.30
“Compound” shall mean [***] (a.k.a., tapinarof, DMVT-505 and [***] and [***]. 

  
 4. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 1.31 “Confidential Information” shall have the meaning provided in
Section 7.1. 
 1.32 “Control” or “Controlled by” shall mean, subject to Section 13.6,
with respect to any Information, Patents or other intellectual property rights, possession by a party of the ability (whether by ownership, license or other right, other than pursuant to a license granted to such party under this Agreement) to grant
access to, to grant use of, or to grant a license or a sublicense to, such Information, Patents or intellectual property rights without violating the terms of any agreement or other arrangement with any Entity or without any material additional
consideration being due by a party to a Third Party as a result thereof which the other party does not agree to reimburse within [***] after being informed in writing by such party of the existence and terms of such consideration. For clarity, in
case that any Information or Patents are agreed to be owned by Dermavant or Licensee pursuant to Section 8.1(d), shall be deemed to be Controlled by the owner of such Information or Patent, as applicable (and in case that any Information or
Patents are agreed to be owned jointly, such Information or Patent shall be Controlled by each of Dermavant and Licensee). 
 1.33
“Converted Trial” means, with respect to a Product in the Territory, a human clinical trial (irrespective of designation) for such Product, that did not meet the criteria for a Pivotal Clinical Trial at the time such human
clinical trial is initiated but that is later modified to meet the criteria for a Pivotal Clinical Trial. For clarity, such trial shall be deemed to have been “initiated” upon the first enrollment of a patient after such modification. 

1.34 “Cost of Goods” shall mean, with respect to Product supplied by or on behalf of Dermavant hereunder or pursuant
to the [***] or the Commercial Supply Agreement: 
 (a) [***] 

(b) [***] 

  
 5. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 1.35 “Cream Formulation” means a semisolid emulsion dosage form as
classified by the FDA or defined by the U.S. Pharmacopeia’s Nomenclature Guidelines. For clarification, “Cream Formulation” does not include any formulation that is a solution, ointment, gel, or lotion, as each such term is classified
by the FDA or defined by the U.S. Pharmacopeia’s Nomenclature Guidelines. 
 1.36 “Data” shall mean any and all
results of research, preclinical studies, including in vitro and in vivo studies, clinical trials, post-approval studies and other testing of Compound or Product, and any and all other data generated by or on behalf of a party related
to the development, manufacture or commercialization of Compound or Product, including biological, chemical, pharmacological, toxicological, pharmacokinetic, clinical, CMC, analytical, quality control, mechanical, software, electronic and other
data, results and descriptions. 
 1.37 “Dermavant CDMO” shall have the meaning provided in Section 6.2. 

1.38 “Dermavant CoC Party” shall have the meaning provided in Section 4.12. 

1.39 “Dermavant Executives” shall mean [***] in each case, as of the Effective Date. 

1.40 “Dermavant Formulation” shall have the meaning provided in Section 2.2(b). 

1.41 “Dermavant Indemnitee” shall have the meaning provided in Section 10.1. 

1.42 “Dermavant Know-How” shall mean all Information Controlled by Dermavant
or any of its Related Affiliates as of the Effective Date or during the Term that is necessary for, or is reasonably useful for, the development, manufacture or commercialization of Product in the Field (including the invention that Dermavant and
Licensee have agreed, through the discussion pursuant to Section 4.4 and 8.1(d), will be solely owned by Dermavant); but excluding Dermavant Patents, Joint Inventions, Joint Patents and any proprietary Information that Licensee does not elect
to include in the License pursuant to Section 8.10. For clarity, the Dermavant Know-How includes Assigned Dermavant Collaboration Know-How. 

1.43 “Dermavant Patents” shall mean all Patents Controlled by Dermavant or any of its Related Affiliates as of the
Effective Date or during the Term that (a) claim composition of matter or formulation, or any method of use in the Field of the Product, or its manufacture or (b) is otherwise necessary or reasonably useful for the development, manufacture
or commercialization of Product in the Field, but excluding the Joint Patents and any Patents that Licensee does not elect to include in the License pursuant to Section 8.10. The Dermavant Patents in the Territory as of the Effective Date are
set forth on Exhibit A. For clarity, the Dermavant Patents include Assigned Dermavant Collaboration Patents. 

  
 6. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 1.44 “Dermavant Product Trademarks” shall have the meaning provided
in Section 8.9(a). 
 1.45 “Dermavant Technology” shall mean the Dermavant Patents and Dermavant Know-How. 
 1.46 “Dermavant Territory” shall mean the entire world, excluding
(a) the Territory and (b) each of (i) China, (ii) Hong Kong, and (iii) Taiwan.  
 1.47
“Development Milestone Event” shall have the meaning provided in Section 5.2. 
 1.48 “Development
Milestone Payment” shall have the meaning provided in Section 5.2.     
 1.49 “Development
Services” shall mean development work (including formulation development), ancillary manufacturing services, capital expenditures, other development- or manufacturing-related services that may be undertaken in connection with (a) the
development or supply of Product for clinical use (e.g., assay transfer of evaluating the Compound or Product, development work in relation to new configurations for Products or re-tooling a Product line);
and/or (b) the development or supply of Product for commercial use (e.g., API process scale up and any re-tooling in respect of the same; commercial facility expansion for both API and drug product,
validation of commercial manufacturing process for new Product configurations etc.). 
 1.50 “Dispute” shall have
the meaning set forth in Section 12.1. 
 1.51 “Distributor” shall mean: (a) a Third Party distributor of
Product that has no royalty or other payment obligations to Licensee or any of its Affiliates that are calculated based on amounts invoiced or received by such Third Party for sales of Product; or (b) a Third Party distributor of Product that
(i) does not take title to Product, (ii) does not invoice Product sales to Third Party customers and (iii) is responsible only for inventory management and distribution with respect to Product on behalf of Licensee or its Affiliate.

 1.52 “DMVT-502” shall mean Dermavant’s proprietary drug candidate
known as DMVT-502 (cerdulatinib), a dual JAK/SYK inhibitor for topical administration, which as of the Effective Date is being developed for potential use in psoriasis and atopic dermatitis.  

1.53 “DMVT-503” shall mean Dermavant’s proprietary drug candidate known
as DMVT-503, a topical sebum inhibitor, which as of the Effective Date is being developed for potential use in acne vulgaris.  

1.54 “DMVT-504” shall mean Dermavant’s proprietary drug candidate
designated as DMVT-504, a combination of oxybutynin with pilocarpine for oral administration, which as of the Effective Date is being developed for potential use in primary focal hyperhidrosis. 

1.55 “Dollar” or “$” means the U.S. dollar, and “$” shall be interpreted accordingly. 

1.56 “Enforcing Party” shall have the meaning provided in Section 8.4(c). 

  
 7. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 1.57 “ENS” shall have the meaning provided in Section 5.3(b)(i).

 1.58 “Entity” shall mean any corporation, general partnership, limited partnership, limited liability
partnership, joint venture, estate, trust, company (including any limited liability company or joint stock company), firm or other enterprise, association, organization or entity. 

1.59 “Exclusive License” shall have the meaning provided in Section 2.11(a). 

1.60 “Exercise Notice” shall have the meaning provided in Section 4.3(c). 

1.61 “Existing Formulation” means any Cream Formulation for Compound or Product that is claimed or covered by an
Existing Patent or a Patent that claims priority thereto or shares a priority claim therewith. 
 1.62 “Existing
Patents” shall have the meaning provided in Section 9.2(a). 
 1.63 “Export Control Laws” shall mean:
(a) all applicable U.S. laws and regulations relating to sanctions and embargoes imposed by U.S. Department of Treasury’s Office of Foreign Assets Control (or its successor office or other body having substantially the same function); (b)
all applicable U.S. export control laws, including the Arms Export Controls Act (22 U.S.C. Ch. 39), the International Emergency Economic Powers Act (50 U.S.C. §§ 1701 et seq.), the Trading With the Enemy Act (50 U.S.C. app.
§§ 1 et seq.), the Export Administration Act of 1979 (50 U.S.C. app. §§ 2401 et seq.), International Boycott Provisions of Section 999 of the U.S. Internal Revenue Code of 1986, and all rules, regulations and
executive orders relating to any of the foregoing, including but not limited to the International Traffic in Arms Regulations (22 C.F.R. §§ 120 et seq.), the Export Administration Regulations (15 C.F.R. §§ 730 et
seq.), and the regulations administered by the Office of Foreign Assets Controls of the United States Department of the Treasury; and (c) all export controls imposed on any Product by any country or organization or nation within the
jurisdiction of which either party operates or does business. 
 1.64 “FDA” shall mean the United States Food and
Drug Administration, or any successor agency thereto in the U.S. 
 1.65 “Field” shall mean the prevention and
treatment of any dermatological disease and/or conditions in human beings via any method of administration. 
 1.66 “First
Commercial Sale” shall mean, with respect to a Product in the Territory, the first commercial transfer or disposition for value of such Product by a Selling Party to a Third Party in the Territory after such Product has received all
Regulatory Approvals in the Territory. 
 1.67 “Funding Agreements” means, collectively, [***] entered into in
connection with the entry into the Funding Agreement described in subsection (b)(i). 

  
 8. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 1.68 “GCP” shall mean current good clinical practices as established
by the FDA and as interpreted by relevant the International Conference on Harmonization of Technical Requirements for Registration of Pharmaceuticals for Human Use Harmonized Tripartite Guideline for Good Clinical Practice (CPMP/ICH/135/95) or the
equivalent Applicable Laws in the Territory; in each case, as amended from time to time. 
 1.69 “Generic Version”
shall mean, with respect to Product that has received Regulatory Approval in the Territory and is being marketed and sold by Licensee or any of its Affiliates or Sublicensees in the Territory, any pharmaceutical product that: (a) is sold in the
Territory by a Third Party that is not a Sublicensee of Licensee or its Affiliates and did not purchase or acquire such product in a chain of distribution that included Licensee or any of its Affiliates or Sublicensees; and (b) has received
Regulatory Approval in the Territory, for at least one of the same indications as such Product, as a “generic drug,” “generic medicinal product,” “bioequivalent” or similar designation of interchangeability by the
applicable Regulatory Authority in such jurisdiction, pursuant to an expedited or abbreviated approval process in accordance with the then-current rules and regulations in such jurisdiction, where (i) such Product is the “reference
medicinal product,” “reference listed product” or similar designation in such jurisdiction, and (ii) such approval referred to or relied on (x) the approved MAA for such Product held by Licensee, its Affiliate or a
Sublicensee in the Territory or (y) the data contained or incorporated by reference in such approved MAA for such Product in the Territory. 

1.70 “Global Brand Elements” shall have the meaning provided in Section 8.9(a) 

1.71 “Global Development Plan” shall have the meaning provided in Section 4.2(b). 

1.72 “Global Phase 2/3 Study” shall have the meaning provided in Section 4.2(b). 

1.73 “GLP” shall mean current good laboratory practices as established by the FDA and as interpreted by relevant ICH
guidelines; in each case, as amended from time to time. 
 1.74 “GMP” shall mean current good manufacturing
practices and standards for the production of drugs and finished pharmaceuticals, as set forth in 21 C.F.R. Parts 210 and 211, as amended from time to time and as interpreted by relevant ICH guidelines. 

1.75 “Grant-Back License” shall mean the licenses granted by Licensee to Dermavant pursuant to Section 2.9 and
pursuant to Section 4.4(c)(ii). 
 1.76 “ICH” shall mean the International Conference on Harmonisation of
Technical Requirements for Registration of Pharmaceuticals for Human Use. 
 1.77 “IND” shall mean an
investigational new drug application, clinical trial application, clinical trial exemption, or similar application or submission filed with or submitted to a Regulatory Authority in a jurisdiction that is necessary to commence human clinical trials
in such jurisdiction, including any such application filed with the FDA pursuant to 21 C.F.R. Part 312. 

  
 9. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 1.78 “Indemnified Party” shall have the meaning provided in
Section 10.3. 
 1.79 “Indemnifying Party” shall have the meaning provided in Section 10.3. 

1.80 “Information” shall mean any and all information that constitutes or relates to (a) techniques, technology,
practices, trade secrets, inventions (whether patentable or not), methods, knowledge, know-how, skill, experience, study data and results (including pharmacological, toxicological and clinical study data and
results), analytical and quality control data, results or descriptions, software and algorithms, or (b) compositions of matter, cells, cell lines, assays, animal models and physical, biological or chemical material; that, in each case, are not
in the public domain. 
 1.81 “Initial Purchase Price Payment” shall have the meaning provided in Section
5.3(b)(ii). 
 1.82 “Initial Transfer Price Term” shall mean, with respect to the first Product launched in the
Field in the Territory, the period commencing on the First Commercial Sale of such Product in the Field in the Territory, ending on the [***] of such First Commercial Sale. 

1.83 “Invention” shall mean any invention or discovery, whether or not patentable, that is made, conceived, generated
or reduced to practice, in whole or in part, in the course and as a result of the conduct of the activities expressly contemplated by this Agreement. 

1.84 “JDC” shall have the meaning set forth in Section 3.4. 

1.85 “JMSC” shall have the meaning set forth in Section 3.4. 

1.86 “Joint Invention” shall mean any Invention (a) made jointly by, on the one hand, one or more employees,
consultants or contractors of Licensee and/or any of its Affiliates or Sublicensees, and, on the other hand, one or more employees, consultants or contractors of Dermavant and/or any of its Related Affiliates or (b) that Dermavant and Licensee
have agreed, through the discussion pursuant to Section 4.4 or 8.1(d), will be jointly owned by Dermavant and Licensee, but excluding any Invention within the Assigned Dermavant Collaboration Know-How or
Joint Patent. 
 1.87 “Joint Patents” shall mean Patents claiming Joint Inventions, but excluding, for clarity, any
Assigned Dermavant Collaboration Patents. 
 1.88 “Joint Steering Committee” or “JSC” shall have
the meaning provided in Section 3.1(a).     
 1.89 “JPC” shall have the meaning provided
in Section 3.4. 
 1.90 “LCM Research” shall have the meaning provided in Section 4.4(c). For clarity, LCM
Research, may include research concerning use of the Product or Compound in any formulation other than an Existing Formulation for any indications in the Field other than Atopic Dermatitis or Psoriasis (or, if applicable, any other indication for
which Licensee has the rights to develop and commercialize Products under this Agreement pursuant to the exercise of its Option under Section 4.3(c)). 

  
 10. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 1.91 “LCM Research Know-How”
means any Information or Invention that is developed or invented by or on behalf of either party or its Affiliates’, or Sublicensees’, whether solely or jointly with others during the Term in connection with the performance of LCM
Research. 
 1.92 “LCM Research Patent” means any Patent that claims or covers any Invention within the LCM
Research Know-How. 
 1.93 “LCM Research Technology” shall mean the
LCM Research Patents and the LCM Research Know-How. 
 1.94 “License”
shall have the meaning provided in Section 2.1(b). 
 1.95 “Licensee Formulation” shall have the meaning
provided in Section 2.2(b). 
 1.96 “Licensee Indemnitee” shall have the meaning provided in Section 10.2.

 1.97 “Licensee Know-How” means all Information Controlled by Licensee or
its Affiliates which is developed during the Term under the Agreement and that is necessary or reasonably useful for the development, manufacture or commercialization of Product in the Field (including the Information that Dermavant and Licensee
have agreed, through the discussion pursuant to Section 4.4 and 8.1(d), will be solely owned by Licensee) but excluding, Licensee Patents and Joint Inventions and Joint Patents. 

1.98 “Licensee Patents” shall mean all Patents Controlled by Licensee or any of its Affiliates that claim Licensee Know-How. 
 1.99 “Losses” shall have the meaning provided in Section 10.1.

 1.100 “MAA” shall mean an application or submission for approval to market a pharmaceutical product filed with
the governing Regulatory Authority. 
 1.101 “Manufacturing License” means, the license granted in
Section 2.1(c) except the license for packaging and labelling. 
 1.102 “MHLW” means Japan’s Ministry of
Health, Labour and Welfare, or any successor agency thereto. 
 1.103 “NDA” shall mean a New Drug Application (as
more fully defined in 21 CFR 314.5, et seq.) filed with the FDA, or any successor application thereto in the U.S. 
 1.104
“Negotiation Period” shall have the meaning provided in Section 4.3(c). 

  
 11. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 1.105 “Net Sales” shall mean [***]: 

(a) [***] 
 (b) [***] 

(c) [***] 
 (d) [***] 

(e) [***]  
 (f) [***]

 [***] 
 [***]: 

  
 12. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 [***] 

(i) [***] 
 (ii) [***] 

1.106 “New Indication Know-How” means any Information or Invention that is
developed or invented by or on behalf of either party or its Affiliates (or in the case of Licensee its Sublicensees), whether solely or jointly (including jointly with the other party or its Affiliates) in connection with the performance of any New
Indication Research. For clarity, only Information or Inventions concerning the Product or Compound in an Existing Formulation are within New Indication Know-How. 

1.107 “New Indication Patent” means any Patent that claims or covers any Invention within the New Indication Know-How. 
 1.108 “New Indication Research” shall have the meaning set forth in
Section 4.3(b). 
 1.109 “New Indication Technology” shall mean the New Indication Patents and the New
Indication Know-How. 
 1.110
“Non-Disturbance Agreements” mean, collectively, [***] 

  
 13. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 1.111 “Offer” shall have the meaning provided in
Section 2.11(c). 
 1.112 “Offer Period” shall have the meaning provided in Section 2.11(c). 

1.113 “Option” shall have the meaning provided in Section 4.3(b). 

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

1.115 “Payment” shall have the meaning provided in Section 5.9. 

1.116 “Person” any natural person or Entity. 

1.117 “Phase 2 Trial” shall mean a human clinical trial that would satisfy the requirements for a Phase 2 study as
defined in 21 CFR § 312.21(b) (or any amended or successor regulations), regardless of where such clinical trial is conducted. 

1.118 “Phase 3 Trial” shall mean a human clinical trial that would satisfy the requirements for a Phase 3 study as
defined in 21 CFR § 312.21(c) (or any amended or successor regulations), regardless of where such clinical trial is conducted. 

1.119 “Pivotal Clinical Trial” means, with respect to a Product in the Territory, a human clinical trial (whether or
not designated a Phase 3 Trial) for such Product, the results of which, together with prior data and information concerning such Product, are intended at the time such clinical trial is initiated to provide sufficient evidence that such Product is
safe and effective for its intended use in the Territory to support Regulatory Approval for such Product in the Territory for such intended use. 

1.120 “Prior CDA” shall mean any prior non-disclosure, secrecy or
confidentiality agreement between the parties entered into in anticipation of, or in connection with the negotiation of, the transactions contemplated by this Agreement. 

1.121 “Product” shall mean any pharmaceutical product that contains the Compound, (a) either (i) alone or
(ii) subject to the terms of this Agreement, as a Combination, and (b) in all dosage forms and formulations. Product shall exclude any product, the sale or use of which does not require a prescription issued by a licensed medical
professional (i.e. any over-the-counter product) except if added to this Agreement following the discussions contemplated under Section 2.7(b). 

  
 14. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 1.122 “Product Filings” shall mean all INDs, NDAs, MAAs, Regulatory
Approvals, and other filings with, and formal submissions to, Regulatory Authorities, in each case, with respect to Product in any country or other jurisdiction. 

1.123 “Product Infringement” shall have the meaning provided in Section 8.4(a). 

1.124 “Product Marks” shall have the meaning provided in Section 8.9(b). 

1.125 “Product ROFN” shall have the meaning provided in Section 2.11(a). 

1.126 “Product Transfer Price” shall have the meaning provided in Section 5.3(a) 

1.127 “Psoriasis” or “Plaque Psoriasis” means psoriasis in infants, children, young adults, adults
and/or the elderly. For clarity, psoriasis in infants, children, young adults, adults and/or the elderly, whether for mild, moderate, severe or other forms of the disease, shall not be deemed to be separate or distinct indications, and shall
individually or collectively be Psoriasis. 
 1.128 “Reconciliation Purchase Price Payment” shall have the meaning
provided in Section 5.3(b)(iv). 
 1.129 “Registration Study” means a Pivotal Clinical Trial or a Converted
Trial. 
 1.130 “Regulatory Approval” shall mean, with respect to a pharmaceutical product in a particular
jurisdiction, all approvals or other permissions from the applicable Regulatory Authority in such jurisdiction necessary to market and sell such product in such jurisdiction, including pricing and reimbursement approvals if required prior to the
first marketing or sale of such product in such jurisdiction. 
 1.131 “Regulatory Authority” shall mean any
country, federal, supranational, state or local regulatory agency, department, bureau or other governmental or regulatory authority having the administrative authority to regulate the development or marketing of pharmaceutical products in any
country or other jurisdiction, including the MHLW in the Territory. 
 1.132 “Regulatory Exclusivity” shall mean any
exclusive marketing rights or data exclusivity rights conferred by any Regulatory Authority with respect to a pharmaceutical product other than a Patent, including orphan drug exclusivity, new chemical entity exclusivity, data exclusivity, or
pediatric exclusivity. 
 1.133 “Related Affiliate” shall mean Dermavant Sciences Limited or any Entity that,
directly or indirectly through one or more intermediaries is controlled by Dermavant Sciences Limited. If an Entity ceases to be controlled by Dermavant Sciences Limited, it will cease to be a Related Affiliate but all rights and obligations arising
under this Agreement prior thereto shall be unaffected. For the purposes of this definition, the term “control” (including, with correlative meanings, the terms “controlled by” and “under common control with”) shall
mean direct or indirect ownership, including ownership by one or more trusts with substantially the same beneficial interests, of 50% or more of the outstanding voting and equity rights of such Entity, or possession of the power to direct the
management and policies of such Entity. 

  
 15. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 1.134 “Related-Product” shall have the meaning set forth in
Section 2.12(a). 
 1.135 “Related-Product License” shall have the meaning provided in Section 2.12(a).

 1.136 “Related-Product Negotiation Period” shall have the meaning provided in Section 2.12(b). 

1.137 “Related-Product Offer” shall have the meaning provided in Section 2.12(b). 

1.138 “Related-Product Offer Period” shall have the meaning provided in Section 2.12(b). 

1.139 “Related-Product ROFN” shall have the meaning set forth in Section 2.12(a). 

1.140 “Right of Reference” shall mean: (a) in the U.S., a “right of reference or use,” as such term is
defined in 21 C.F.R. 314.3(b); or (b) in any other country or jurisdiction, the equivalent authority to rely upon, and otherwise use, an investigation for the purpose of filing, and conducting a clinical trial under, an IND, or obtaining
approval of an NDA, MAA or other Regulatory Approval, including the ability to make available the underlying raw data from the investigation for audit by the applicable Regulatory Authority in such country or other jurisdiction, if necessary. 

1.141 “ROFN Product” shall mean each of the product containing
(a) DMVT-502, (b) DMVT-503 and (c) DMVT-504. 

1.142 “ROFN-Negotiation Period” shall have the meaning set forth in Section 2.11(c) 

1.143 “ROFN-Related Agreement” shall mean, with respect to a particular ROFN Product, (a) any agreement between
(i) Dermavant or any of its Affiliates and (ii) any Third Party, in each case pursuant to which Dermavant has obtained rights relating to such ROFN Product; and (b) any sublicense, asset purchase or similar agreement between Dermavant
and any of its Affiliates relating to such ROFN Product. 
 1.144 “Sanctioned Country” shall have the meaning set
forth in Section 9.5(d). 
 1.145 “Sanctions” shall have the meaning set forth in Section 9.5(d). 

1.146 “Secondary Purchase Price Payment” shall have the meaning provided in Section 5.3(b)(iii). 

1.147 “Selling Party” shall have the meaning set forth in Section 1.105. 

1.148 “Subcommittee” shall mean the JDC, JPC, JMSC or any other subcommittee established by the JSC pursuant to
Section 3.4. 

  
 16. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 1.149 “Sublicense” shall mean (a) a sublicense under the License
or any portion thereof, or (b) a right to market, promote and sell Product in the Field in the Territory. 
 1.150
“Sublicensee” shall mean any Affiliate or Third Party that has received a Sublicense, directly or indirectly through one or more tiers, from Licensee or its Affiliate. As used in this Agreement, “Sublicensee” shall not
include a Distributor. 
 1.151 “Supply Failure” shall mean (a) a material or repeated failure to meet a firm
order for Product or a material or repeated failure to manufacture Product in accordance with GMP (as such term will be defined in the Commercial Supply Agreement) or the applicable specifications for such Product; provided, that, to the
extent that Product supplied to Licensee is manufactured by Dermavant or its Affiliates, failure to meet at least [***] of a firm order for Product or to manufacture Product in accordance with GMP or the applicable specifications for such Product,
in either case, for a consecutive [***] period will be deemed to be a Supply Failure; provided, further, that to the extent that Product supplied to Licensee is manufactured by a CDMO, a Supply Failure under this Agreement will not be deemed
to have occurred unless a Supply Failure (or correlative term) under the applicable CDMO agreement has occurred or (b) Dermavant’s material or repeated failure to make arrangements for manufacturing and supply of the Compound or Product
(including, placing an order to CDMO), in accordance with its obligations under the Clinical Supply Agreement or Commercial Supply Agreement, which Supply Failure described in (b) shall be further defined in the Clinical Supply Agreement and
Commercial Supply Agreement. 
 1.152 “Tax-adjusted Yakka Price” means the
price (in JPY) for the Product per gram, the price of which is established by the National Health Insurance System in the Territory, less the then-current consumption tax portion. 

1.153 “Tax Changing Decision” shall have the meaning provided in Section 5.9. 

1.154 “Tax Documents” shall have the meaning provided in Section 5.1. 

1.155 “Taxes” shall have the meaning provided in Section 5.9. 

1.156 “Term” shall have the meaning provided in Section 11.1. 

1.157 “Territory” shall mean Japan. 

1.158 “Territory Development Plan” shall mean a written plan, for the conduct of the Territory-Specific development
activities with respect to the Product in the Field in the Territory to support MAA filing and Regulatory Approval for the Product in each indication within the Field in the Territory, and, if agreed, any activities to be conducted by Licensee to
support the global development of Products pursuant to the Global Development Plan. The high level outline of the initial version of the Territory Development Plan is attached hereto as Exhibit C, and the parties will use diligent efforts to
agree on the initial version of the Territory Development Plan as soon as reasonably possible following the Effective Date. 

  
 17. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 1.159 “Territory-Specific” shall mean, in reference to any
development activity with respect to a Product in the Field in the Territory, that such activity is specifically necessary to support MAA filing and Regulatory Approval of such Product in the Field in the Territory. 

1.160 “Third Party” shall mean any entity other than Dermavant or Licensee or an Affiliate of Dermavant or Licensee.

 1.161 “Third Party Agreement” shall have the meaning provided in Section 8.10.  

1.162 “Third Party Licenses” shall have the meaning provided in Section 5.5(a).  

1.163 “Third Party Right” shall have the meaning provided in Section 8.10.  

1.164 “Torii” shall have the meaning provided in Section 2.3(a)(i).  

1.165 “Transfer Price Payment Term” shall mean, on a
Product-by-Product basis, the period of time that commences on the date of the First Commercial Sale of a given Product in the Territory, and, unless earlier terminated,
expires, on a Product-by-Product basis, upon expiration of all Regulatory Exclusivity for such Product in the Field in the Territory and launch of a Generic Version of
such Product in the Territory; provided that with respect to the first Product launched in the Territory for the first indication in the Field, the Transfer Price Payment Term shall not commence on the First Commercial Sale of such Product in the
Territory, but will instead commence upon the expiration of the Initial Transfer Price Term. 
 1.166 “U.S.” shall
mean the United States of America. 
 1.167 “Upfront Payment” shall have the meaning provided in
Section 5.1.  
  

	2.	 LICENSE GRANTS 

2.1 License Grant to Licensee. Subject to the terms and conditions of this Agreement, Dermavant hereby appoints Licensee, during the
Term, as the exclusive distributor of Products in the Field and in the Territory, and hereby grants to Licensee, during the Term: 
 (a)
an exclusive (even as to Dermavant and its Related Affiliates, except as set forth in Section 2.5), fee-bearing license, including the right to sublicense solely as expressly permitted by
Section 2.3, under the Dermavant Technology and Dermavant’s interest in Joint Inventions and Joint Patents, solely to preclinically and clinically develop, import, offer for sale, sell, package and label Product in the Field in the
Territory; 
 (b) a non-exclusive license, with the right to grant sublicenses solely in
accordance with Section 2.3, under the Dermavant Technology and Dermavant’s interest in Joint Inventions and Joint Patents, solely to (i) perform Product preclinical and clinical development activities in the Field in the Dermavant
Territory (other than in the U.S.), and (ii) perform Product research activities in the Field in the Territory or the Dermavant Territory (other than in the U.S.) that are directed to Product in an Existing Formulation for use in Atopic
Dermatitis or Psoriasis or otherwise agreed by the JSC pursuant to Section 4.4, in each case of (i) or (ii) to the extent permitted by this Agreement and conducted to support the registration and commercialization of Product in the Field
in the Territory; and 

  
 18. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (c) Subject to Section 2.2, a
non-exclusive, fee-bearing (to the extent set forth in this Agreement) license in the Territory or the Dermavant Territory (other than in the U.S.), without the right to
sublicense, but, for clarity, with the right to subcontract to a CDMO approved by Dermavant (which approval shall not be unreasonably withheld, delayed or conditioned), under the Dermavant Technology and Dermavant’s interest in Joint Inventions
and Joint Patents, to make, have made, package and label Compound solely for incorporation into Products, and to make and have made Products; in each case, solely for use and distribution in the Field in the Territory (the rights and licenses
granted in this Section 2.1, collectively, the “License”). 
 2.2 Conditions for the Exercise of
Manufacturing Rights. 
 (a) Effectiveness of Manufacturing License. Notwithstanding anything herein to the contrary, the
Manufacturing License shall only be effective upon a Supply Failure, or as otherwise set forth in Section 2.2(b) in connection with the manufacture of Product in a Licensee Formulation. Licensee shall have no right to practice, and hereby
covenants that neither it nor its Affiliates will practice the Manufacturing License unless and until a Supply Failure occurs or the conditions in Section 2.2(b) are satisfied. The parties agree that Dermavant shall have the right to obtain
injunctive relief preventing any exercise of the Manufacturing License in contravention of this Section 2.2 pursuant to Section 12.4 without the requirement to post bond with respect thereto. 

(b) Specific Licensee Formulations. The parties understand and agree that the supply of the Product hereunder will be made by Dermavant
(itself or through a Dermavant CDMO) in (i) the dosage/formulation(s) that have been developed as of the Effective Date and that are available from Dermavant’s CDMO as of the Effective Date; (ii) any dosage/formulation that, at the
time of supply, is being used outside of the Territory by or on behalf of Dermavant and that is available for supply by Dermavant to Licensee (whether directly or through a Dermavant CDMO) for use in the Territory; or (iii) any other
dosage/formulation that Licensee requests and that Dermavant has the right to require any existing Dermavant CDMO to supply to Dermavant for sale to Licensee for use in the Field or in the Territory under its agreement with any such Dermavant CDMO
(but without limiting Section 6.1 with respect to any Development Services) (each of (i)-(iii), a “Dermavant Formulation”), in each case, as will be set forth in the Clinical Supply Agreement or Commercial Supply
Agreement, as applicable. In the event Licensee has demonstrated that it requires or that it would be materially beneficial to manufacture Product in a formulation other than a Dermavant Formulation for commercialization in the Territory (each such
other formulation, a “Licensee Formulation”), then, should Dermavant elect not to manufacture or have manufactured the Licensee Formulation, the Manufacturing License will enable Licensee to manufacture or have manufactured
such Product in the applicable Licensee Formulation if all of the following occur: (A) Dermavant is able to grant such rights without violating the terms of any Third Party agreement, including any Dermavant CDMO agreement (with Dermavant
agreeing to use its commercially reasonable efforts, if so requested by Licensee, to seek the required permissions from any Dermavant CDMO or relevant Third Party to enable Dermavant to Control grant such rights), (B), if any transfer of any
manufacturing or process development technology is necessary, Dermavant is able to provide or require the transfer of any manufacturing 

  
 19. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
and process development technology reasonably required for such manufacture of the Product in any Licensee Formulation in a manner that does not disadvantage or restrict Dermavant with respect to
any the manufacture of Compound or Product outside of the Territory, and, (C) Dermavant and Licensee (through the JMSC or otherwise) have agreed in good faith on the financial terms payable to Dermavant following the assumption of such
manufacturing by Licensee (which terms shall produce substantially the same economic effects as if Product were manufactured by Dermavant). 

(c) Manufacturing Technology Transfer. Following the effectiveness of the Manufacturing License, on the request of Licensee and pursuant
to a plan mutually agreed by the parties through the JMSC in good faith, Dermavant shall: 
 (i) if, at the time of such request,
Dermavant manufactures the Compound and/or Product itself (including through an Affiliate), initiate and complete a technology transfer of the process and technology that is then-used to manufacture the Compound and Product to Licensee (or to a
mutually agreed Third Party CDMO designated by Licensee); or 
 (ii) if, at the time of such request, Dermavant has retained one or
more Dermavant CDMOs to manufacture the Compound and/or Product and subject to any applicable agreement between Dermavant and any relevant Dermavant CDMO, Dermavant shall either: 

(1) use commercially reasonable efforts to facilitate direct discussions between the relevant Dermavant CDMOs so that Licensee may be
able to directly engage such CDMOs to supply the Compound and Product to Licensee; or 
 (2) engage a new CDMO that is selected by
Dermavant (after consultation with Licensee and reasonably taking into account Licensee’s views), and the parties will coordinate the logistics of initiation and completion of a technology transfer of the process and technology that is
then-used to manufacture the Compound and Product to the Third Party CDMO selected by Dermavant; 
 with the relevant decision to be at Dermavant’s
election, following good faith discussions at the JMSC; provided, however, that in case that the relevant transfer is as a result of a Supply Failure described in subparagraph (b) of Section 1.151 (Definition of Supply Failure), the
relevant decision will be made at Licensee’s election. 
 (d) Manufacturing Technology Transfer Costs. With respect to any
manufacturing technology transfer described in Section 2.2(c)(i), or any manufacturing technology transfer described in Section 2.2(c)(ii) that was initiated as a result of a Supply Failure due to subparagraph (b) of
Section 1.151 (Definition of Supply Failure), [***]. The parties shall negotiate in good faith an equitable sharing of costs for any manufacturing technology transfer described in Section 2.2(c)(ii) that was initiated for any reason other
than as a result of a Supply Failure due to subparagraph (b) of Section 1.151 

  
 20. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
(Definition of Supply Failure), which costs sharing would be set forth in the plan for the relevant manufacturing technology transfer agreed by the parties in good faith (through the JMSC).
Notwithstanding the foregoing, unless the transfer is because of a Supply Failure, the foregoing costs shall not include expenses and costs for any Development Services related to a Licensee Formulation or any transfer expenses or costs (including
direct or out-of-pocket costs), to the extent specifically related to the transfer of any technology or process that is specific to a Licensee Formulation, which
expenses and costs shall be borne by Licensee. Prior to commencing any such manufacturing technology transfer, Dermavant shall provide Licensee with an estimate of the expenses and costs to be borne by Licensee in connection therewith. Upon receipt
of such estimate, Licensee may elect to cancel its election to transfer manufacturing of the Product to a new CDMO. 
 2.3 Sublicenses
and Appointments.
 (a) General Sublicensing Rights. The License shall include, as applicable, and in each case subject to
Section 2.3(b): 
 (i) the right to grant Sublicenses to Affiliates of Licensee (including Torii Pharmaceutical Co. Ltd.
(“Torii”)), without Dermavant’s consent, provided that any further Sublicense proposed to be granted by any such Affiliate to a Third Party shall be subject to Section 2.3(a)(ii); 

(ii) the right to grant Sublicenses to Third Parties only with Dermavant’s prior written consent (which consent shall not be
unreasonably withheld, delayed or conditioned); and 
 (iii) the right to appoint Distributors and to engage contract research
organizations, and other Third Party subcontractors for the sole purpose of performing Licensee’s obligations with respect to the development, and commercialization of Products in the Field in the Territory; 

(b) Obligations and Responsibility. Any Sublicense granted to any Affiliate of Licensee or to any Third Party, and any appointment of a
Distributor or Licensee CDMO shall be in writing and shall (i) be subject to, and consistent with, the terms and conditions of this Agreement including, for clarity, the absence of any right to research, manufacture develop or commercialize any
Product in the U.S. and (ii) include invention assignment, confidentiality, nondisclosure, and non-use provisions at least as restrictive or protective of the parties as those set forth in this Agreement.
For the avoidance of doubt, unless otherwise approved in writing by Dermavant, with such approval not to be unreasonably withheld, conditioned or delayed, taking into account customary retention of ownership interests maintained by the relevant
Sublicensee with respect to its background intellectual property, or generally applicable intellectual property generated by such Sublicensee, each Sublicense or other agreement between Licensee and any subcontractor or CDMO of Licensee shall
require that Licensee obtain Control of all intellectual property rights, Information or materials arising in connection with the performance of Compound-or Product-related activities under such agreement to the extent such intellectual property
right, Information or materials are specific to or otherwise necessary for the development, manufacture, or commercialization of Compound and/or Product so that such Compound- or Product-related intellectual property, Information and materials will
be licensed by Licensee to Dermavant 

  
 21. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
pursuant to the Grant-Back License without restriction, other than as set forth herein. Licensee shall be fully responsible for the compliance of its Affiliates, Sublicensees, and Distributors
with the terms and conditions of this Agreement and shall remain solely liable for the performance of its obligations hereunder, notwithstanding any such Sublicense or appointment. Licensee shall promptly notify Dermavant in writing of the execution
of any Sublicense agreement and shall provide Dermavant with a copy of the Sublicense that Licensee reasonably believes that is likely to involve the generation of new intellectual property rights relating to Compound or Product in the course of the
performance of the activities under such Sublicense agreement (excluding the agreements with the clinical sites), and any material amendment thereto, in each case, no later than [***] following execution thereof, provided that Licensee need not so
provide copies of a Sublicense agreement if such Sublicense agreement is entered into with vendors or subcontractors that are not performing clinical or preclinical research, development or manufacturing for the Compound or Product; provided,
further however, that, Dermavant and Licensee shall agree on an efficient method for providing such copies. Licensee may redact any confidential or financial information contained in any Sublicense or amendment provided to Dermavant hereunder that
is unnecessary for Dermavant to ascertain compliance with this Agreement. In addition, Licensee shall obtain Dermavant’s written approval, such approval not to be unreasonably withheld, conditioned or delayed, prior to engaging any contract
research organization or any other major vendor (e.g., central testing labs, centralized radiologic review) to perform services outside of the Territory that are (A) required to be performed in compliance with GCP or (B) being performed in
connection with any Global Phase 2/3 Study for Products in the Field in which Licensee is participating. 
 2.4 Initial Delivery of
Dermavant Know-How; Ongoing Know-How Exchange. 
 (a)
Within [***] days after the Effective Date, the parties shall agree upon a plan for Dermavant, at no additional charge to Licensee, to make available to Licensee copies of such existing and available (in recorded form) Dermavant Know-How in Dermavant’s possession and Control as of the Effective Date as (i) is necessary or reasonably useful for Licensee to exercise the License (but excluding the Manufacturing License) in accordance
with this Agreement; and (ii) is otherwise necessary or reasonably useful to perform Licensee’s obligations under Section 4.1 of this Agreement for the development of Product in the Field in the Territory, including, without
limitation (A) the GLP certificate issued by national GLP monitoring authority or Establishment Inspection Reports issued by FDA for each test facility (including test sites), (B) Clinical study report of phase 2 studies (DMVT505-[***] and
DMVT505-[***]) and phase 1 studies (DMVT505-[***], DMVT505-[***], and DMVT505-[***]), which also includes section 16, (C) the ICH-E6 essential documents of completed clinical studies and (D) CTN related
materials of phase 1 study (Study Number [***]), such as clinical trial notification, change notification, completion notification, queries from the PMDA on the briefing package, responses to the PMDA’s queries,
(E) pre-late phase II study consultation minutes [***] provided that, to the extent any of the foregoing (A)-(E) are not in Dermavant’s possession or Control, Dermavant will use reasonable efforts to
obtain such possession and Control, and will promptly provide each of (A)-(E) as soon as practicable following its possession and Control of any of the foregoing. On an ongoing basis during the Term, Dermavant shall also disclose to Licensee such
additional Dermavant Know-How generated after the Effective Date as is necessary or useful for Licensee to exercise the License (but excluding the Manufacturing License) in accordance with this Agreement or
otherwise necessary to perform Licensee’s obligations under Section 4.1 of this Agreement for 

  
 22. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
the development of the Product in the Field in the Territory. Without limiting the generality of the foregoing, Dermavant shall provide to Licensee true and complete copies of all final reports
of any material preclinical study or clinical trial of Compound or Product in the Field, and all pharmacology, toxicology, pharmacokinetic and other data with respect to Compound or Product, in each case generated by or on behalf of Dermavant, or
any of its Related Affiliates, and Licensee shall have the right to use the Data contained in such reports solely within the scope of the License. In addition, if Dermavant fails to provide any of the foregoing (A)-(E) within [***] following the
Effective Date, and Licensee reasonably believes that any such Information that is not delivered is required by the Regulatory Authority for Regulatory Approval of Product in the Territory, then Licensee shall provide written notice of the same to
Dermavant. Following Dermavant’s receipt of such notice, the parties shall discuss in good-faith (at the JDC or otherwise) the missing Information that is required by Licensee, the relevant timeline by which such Information is required by
Licensee in relation to its anticipated development efforts, and, if determined by either party to be required, a study-plan and reasonable study-budget for the conduct of any non-clinical or clinical studies
that would be required to be performed to re-generate the relevant Information in (A)-(E), as applicable, that is required by Licensee and that was not timely provided by Dermavant. Unless otherwise agreed,
Dermavant shall have the first right to perform or have performed any studies required to generate the Information described in (A)-(E) that is required by that was not timely delivered, [***] provided that if Dermavant elects not to perform such
additional studies (with such election to be made as soon as practicable following the parties’ discussions and agreement on the study-plan and study-budget), then Licensee shall have the right to perform the relevant studies and [***]. For
clarity, any Information generated in the conduct of any such studies (whether conducted by Licensee or Dermavant) would be solely owned by Dermavant, included within the Dermavant Know-How, and subject to the
rights and License granted to Licensee hereunder. 
 (b) On an ongoing basis during the Term, Licensee shall promptly disclose to
Dermavant such Information Controlled by Licensee or its Affiliates as is necessary or useful for Dermavant to (i) exercise the Grant-Back License in accordance with this Agreement, (ii) exercise the license(s) granted to Dermavant
pursuant to Section 4.4(c)(ii) of this Agreement or (iii) exercise Dermavant’s rights and perform Dermavant’s obligations under Article 4 of this Agreement. Without limiting the generality of the foregoing, Licensee shall provide
to Dermavant all final reports of any material preclinical study or clinical trial of Compound or Product, and all pharmacology, toxicology, pharmacokinetic and other data with respect to Compound or Product, and Dermavant shall have the right to
use and allow the use of such Data for any purpose, other than development, use, sale, offer for sale or import of Product in the Field in the Territory during the Term. 

2.5 Retained Rights. Notwithstanding the exclusivity of the License or any portion thereof, Dermavant hereby expressly reserves: 

(a) the exclusive right (even as to Licensee and its Affiliates, subject only to Licensee’s right to practice the Manufacturing
License in accordance with Section 2.2) to make and have made Compound and Product anywhere in the world; 

  
 23. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (b) the exclusive right (even as to Licensee and its Affiliates) to practice, and to
grant licenses under, the Dermavant Technology and Dermavant’s interest in Joint Inventions and Joint Patents, for any and all purposes outside of the express scope of the License, which retained right includes, without limitation, the
exclusive right to research develop, register, use, sell, have sold, offer for sale and import: (i) Compound and Product inside and outside of the Field in the Dermavant Territory; and (ii) Compound and Product outside of the Field in the
Territory; and 
 (c) the non-exclusive right to practice the Dermavant Technology, Joint
Inventions and Joint Patents for the purpose of (i) performing research and global development in the Territory solely in connection with and for the purpose of exploiting the rights retained by Dermavant pursuant to Section 2.5(b) and
otherwise in accordance with the terms of this Agreement and (ii) to package and label (or have packaged and labeled) Product for use in the Field in the Territory under this Agreement, as agreed by the parties, with such agreement not to be
unreasonably withheld, conditioned or delayed. 
 2.6 Negative Covenants. Licensee hereby covenants not to practice, and not to
permit or cause any Affiliate, Sublicensee, Distributor or other Third Party to practice any Dermavant Technology for any purpose other than as expressly authorized in this Agreement. Without limiting the generality of the foregoing, Licensee hereby
covenants on behalf of itself and its Affiliates: 
 (a) not to develop, register, use, sell, have sold or offer for sale or seek
Regulatory Approval for Compound or Product in the Dermavant Territory; 
 (b) not to, and not to permit or cause any Affiliate, and
to use its commercially reasonable efforts not to allow a Sublicensee or Distributor to, sell or provide Compound or Product to any Third Party if Licensee knows, or has or should have reason to believe, that Compound or Product sold or provided to
such Third Party would be sold or transferred, directly or indirectly, for use (i) in the Dermavant Territory or (ii) outside the Field (or for indications other than Atopic Dermatitis or Psoriasis, unless and until the terms for such
other indication have been agreed upon pursuant to the process set forth in Section 4.3(a)); 
 (c) not to (i) develop,
register, use, sell, have sold, offer for sale or import or seek Regulatory Approval for any Combination unless with regard to Combination Product and Combination Treatment, the financial consideration to be provided in connection with the rights to
do so has been separately agreed pursuant to Section 2.7(a); or (ii) perform any research or development with respect to any Combination other than as permitted by the JSC and agreed by the parties in accordance with Section 4.4(a);

 (d) not to conduct or have conducted any material research or development, preclinical study, or clinical trial of the Compound or
Product without first discussing such material research or development, preclinical study or clinical trial at the JSC, and, if required, obtaining approval from the JSC pursuant to Section 4.4; 

  
 24. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (e) not to conduct any clinical trial of Compound or Product, except in accordance
with a JSC-approved clinical research protocol and as expressly set forth in the Territory Development Plan; 

(f) not to make or have made Compound or Product, except for Compound and Product within the express scope of the Manufacturing License
and to the extent permitted pursuant to Section 2.2; 
 (g) not to develop or commercialize any Compound, or any product
containing a Compound, for the over-the-counter market, unless the rights to do so have been separately agreed upon pursuant to Section 2.7(b); 

(h) not to research, develop, export, import or otherwise commercialize any Compound or Product outside the Field (or for indications
other than Atopic Dermatitis or Psoriasis, unless and until the terms for such other indication have been agreed upon pursuant to the process set forth in Section 4.3(a) or 4.4(b)); or 

(i) not to grant, or purport to grant any license or right, or otherwise enable any Affiliate of Licensee or any Third Party to do any
of the foregoing, and shall use its commercially reasonable efforts to ensure that none of the foregoing occur. 
 2.7 Combination
Products and Over-The-Counter Products. 
 (a)
Combination Products. In the event that Licensee desires to research or clinically develop or commercialize any Combination, then Dermavant and Licensee shall discuss in good faith and agree upon (i) the terms of such research or
development as set forth in and subject to Section 4.4(a), and (ii) the additional financial terms that may apply to the clinical development and commercialization (i.e. milestones, royalties, transfer prices or other payments required on
the Net Sales) of the Combination, if such Combination is a Combination Product or a Combination Treatment and if any additional financial terms are necessary, in each case, prior to the occurrence of any of the foregoing. In the event that the
parties are unable to agree in good faith on any such additional financial terms described in (ii) above in relation to the clinical development or commercialization of any Combination Product or a Combination Treatment, then either party may,
by written notice to the other party refer the matter to the parties’ respective Senior Executives for attempted resolution by good faith negotiation. If the Senior Executives are unable to agree upon such terms within [***] following the
referral to such Senior Executives, then either party may, in its sole discretion, seek final resolution of such terms through binding “baseball” arbitration, as described in and pursuant to the procedures set forth in Section 12.5.
For clarity, any additional financial terms are not necessary other than the payment provided under Section 5 of this Agreement in case of clinically developing or commercializing Combination Therapy, but such research, development or
commercialization remains subject to the approval of the JSC as set forth in Section 4.4(a). 
 (b)
Over-The-Counter Products. The parties understand and agree that the License does not include and specifically excludes any right to research, develop or
commercialize any product containing Compound, for the over-the-counter market and that, as between the 

  
 25. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
parties, Dermavant retains all rights to the over-the-counter market for the Compound or Product in the Territory.
Notwithstanding the foregoing, Dermavant agrees, as follows: 
 (i) During the Term, neither Dermavant nor its Related Affiliates
will (A) seek to develop or commercialize any Compound or product containing Compound for over-the-counter use in the Field in the Territory, or (B) unless requested by Licensee, initiate or have any substantive discussions or negotiations
with any Third Party with respect to the grant by Dermavant or any of its Related Affiliates to such Third Party of an exclusive license to develop and commercialize any Compound or product containing Compound for over-the-counter use in the Field in the Territory (or, prior to having substantive discussions with Licensee, as contemplated in Section 2.7(b)(ii) grant any such rights); and 

(ii) On the request of Licensee, Dermavant will take whatever actions are needed to satisfy its obligations to a Third Party with
respect to the potential grant by Dermavant and its Related Affiliates to such Third Party of a license to develop and commercialize products containing Compound for
over-the-counter use in the Field in the Territory and, if such Third Party’s rights become exhausted without Dermavant granting such a license for over-the-counter
use in the Field in the Territory, then Dermavant will initiate substantive discussions with Licensee regarding the potential grant by Dermavant and its Related Affiliates to Licensee of an exclusive license to develop and commercialize Product for over-the-counter use in the Field in the Territory. 
 2.8 Non-Compete. During the period commencing on the Effective Date and concluding on the date that is the earlier of: (a) [***] after the First Commercial Sale of a Product in the Field and in the Territory by a
Selling Party under this Agreement; or (b) [***] after termination of this Agreement (excluding the case of termination due to Dermavant’s uncured material breach pursuant to Section 11.2(a)), Licensee will not, and will ensure that its
Affiliates do not, independently or for or with any Third Party, sell or market any Competitive Product inside or outside of the Territory, or license, sell, assign, or otherwise grant rights to any Third Party to do any of the foregoing. 

2.9 Grant-Back Licenses to Dermavant. Subject to the terms and conditions of this Agreement and, if applicable, any agreement with
Licensee’s CDMOs (but without limiting Licensee’s obligations under Section 2.3(b)), Licensee hereby grants to Dermavant (on behalf of itself and its Affiliates) a royalty-free and, fully-paid (except as provided in
Section 11.4(c)), irrevocable, perpetual exclusive (even as to Licensee and its Affiliates) license, with the right to sublicense through multiple tiers of sublicense (but if the sublicense is to a Third Party licensee of Dermavant that has the
right to develop and commercialize Products for its own account (rather than on behalf of Dermavant), then such sublicense is only permitted if the relevant Third Party licensee grants corresponding rights to intellectual property generated by such
licensee that can be exercised by Licensee under this Agreement) under (a) the Licensee Patents, (b) the Licensee Know-How and (c) Licensee’s and its Affiliate’s interest in and to any
Joint Inventions and Joint Patents, in each case, (i) to research, develop, import, offer for sale and sell the Compound or Product (A) outside the Territory and (B) outside the Field in the Territory and (ii) to manufacture and
have manufactured the Compound and Product to be developed or sold (A) outside the Territory and (B) outside the Field in the Territory; provided, however, that the license to any Licensee Patents, Licensee
Know-How, Joint Patent, Joint Invention generated in the course of Approved Combination Research, or LCM Research in which Dermavant did not participate shall be separately agreed pursuant to in
Section 4.4(c). 

  
 26. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 2.10 No Implied Licenses. No right or license under any Patents or Information of
either party is granted or shall be granted by implication. All such rights or licenses are or shall be granted only as expressly provided in this Agreement. 

2.11 Right of First Negotiation for ROFN Products. 

(a) Product ROFN. Dermavant hereby grants to Licensee an exclusive right of first negotiation to obtain an exclusive license, under the
applicable Patents and Information Controlled by Dermavant, to develop, use, sell, offer for sale import and commercialize each ROFN Product for indications in the Field in the Territory (with respect to each ROFN Product, the “Product
ROFN”, and such license, an “Exclusive License”), subject to the remainder of this Section 2.11. Licensee acknowledges and agrees that its rights with respect to the Product ROFN for DVMT-503 are subject to a preemptive right of negotiation held as of the Effective Date by a certain Third Party for DVMT-503 and Dermavant shall not have any obligations
pursuant to this Section 2.11 that conflicts with or would cause Dermavant to breach its obligations to such Third Party with respect thereto (with Dermavant agreeing to use its reasonable commercial efforts, if so requested by Licensee, to be
able to grant such right through triggering such preemptive right of negotiation or otherwise exercising its rights under its agreement with such Third Party). Licensee further acknowledges and agrees that any licenses and other rights that would be
granted to Licensee following the successful conclusion of negotiations under a Product ROFN will be subject to and consistent with the terms, conditions and limitations set forth in the ROFN-Related Agreement(s) for the applicable ROFN Product as
of the Effective Date to the extent such terms, conditions and limitations were not redacted from the copies of the ROFN-Related Agreements disclosed to Licensee. 

(b) ROFN Trigger Notice. If (i) a Third Party provides Dermavant with a written term sheet (including financial terms) for
obtaining a license to develop and commercialize a ROFN Product in the Territory for one or more indications in the Field (excluding, for clarity, any term sheet that is received by Dermavant following Dermavant’s determination described in the
subparagraph (ii) (A) or (ii) (B)), or (ii) Dermavant determines following the completion of the first Phase 2 Trial (subject to this Section 2.11 and the restrictions and requirements below) to either (A) engage in direct (or
through an Affiliate) commercialization of an ROFN Product in the Territory for one or more indications in the Field, or (B) seek to grant to the Third Party the right to develop and commercialize an ROFN Product in the Territory for one or
more indications in the Field, then, in either case of (i) or (ii), Dermavant shall provide written notice (a “ROFN Trigger Notice”) to Licensee within [***] after receiving such offer or making such determination, which
notice shall specify the ROFN Product(s) and the indications within the Field to be licensed along with, in the case of any offer described in subsection (i), a copy of such Third Party’s term sheet (which copy may have the Third Party’s
name and identifying information redacted) or, in the case of subsection (ii)(B), the material financial terms which Dermavant is seeking to obtain for a grant of the rights to develop and commercialize the applicable ROFN Product(s) in the
Territory for one or more indications in the Field. 

  
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 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (c) ROFN Exercise and Negotiations. Licensee may exercise the Product ROFN for a
particular ROFN Product by submitting a written offer for the proposed terms of such Exclusive License, including the material financial terms and a high level development plan for the ongoing development and commercialization of such ROFN Product
in the Territory (an “Offer”) (i) within [***] after receiving the ROFN Trigger Notice for such ROFN Product or (ii) within [***] after Licensee notifies Dermavant that Licensee is interested in obtaining an Exclusive
License to such ROFN Product ((i) or (ii), the “Offer Period”). If Licensee submits an Offer for such ROFN Product to Dermavant during the Offer Period, then Dermavant and Licensee shall enter into exclusive good faith
negotiations regarding the commercially reasonable terms for such Exclusive License for a period of [***] following Dermavant’s receipt of such Offer (such period, as may be extended by the parties’ written agreement, the
“ROFN-Negotiation Period”). If Licensee does not submit an Offer for such Exclusive License during the Offer Period, or if Licensee submits an Offer during the Offer Period and the parties do not execute a written agreement
for such Exclusive License during the ROFN-Negotiation Period, then the Product ROFN for such ROFN Product shall automatically expire. Dermavant shall not license or offer to license such ROFN Product to any Third Party in the applicable
indication(s) in the Field in the Territory until the Product ROFN for such ROFN Product has expired. 
 (d) Completion of First Phase 2
Trial. Dermavant will not (i) offer to a Third Party a license to develop and commercialize any ROFN Product in the Field in the Territory, or (ii) engage in any commercialization of any ROFN Product (directly or through an Affiliate)
in the Field and in the Territory, in each case of (i)-(ii), prior to the earlier of Dermavant’s receipt and transmittal to Licensee of initial top line data from the first Phase 2 Trial for such ROFN Product or expiration of the Product ROFN
for the applicable ROFN Product. For the avoidance of doubt, nothing in this Section 2.11 shall create any obligation for Dermavant or any of its Affiliates to develop any ROFN Product or to conduct or complete a Phase 2 Trial for any ROFN
Product. 
 (e) Information Sharing for ROFN Products. Provided that the Product ROFN for a given ROFN Product has not yet expired,
Dermavant will (i) regularly disclose to Licensee a summary level overview of the progress of development of such ROFN Product in the Field, (ii) upon Licensee’s request, disclose the top line results of each clinical or material
non-clinical study, including but not limited to each Phase 2 Trial, for such ROFN Product for one or more indications in the Field as soon as such results are available to and in the Control of Dermavant. 

2.12 Right of First Negotiation for Related Products. 

(a) Dermavant hereby grants to Licensee a right of first negotiation to obtain an exclusive license, under the applicable Patents and
Information Controlled by Dermavant, to develop and commercialize any product(s) containing an [***] in any formulation in the Field and in the Territory (other than the Product) (each such product, a “Related-Product”, such
negotiation right with respect to any such Related-Product, a “Related-Product ROFN”, and such license, a “Related-Product License”), subject to the remainder of this Section 2.12.

  
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 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (b) If Dermavant determines in its sole discretion that it wishes to grant a
Related-Product License or to engage in direct (or through an Affiliate) development and commercialization of an Related-Product in the Territory for one or more indications in the Field, then Dermavant shall provide written notice to Licensee
within a reasonable time period after such determination, which notice shall include a general summary of the relevant Related-Product in the Field and in the Territory to be licensed. Licensee may exercise the Related-Product ROFN for the rights to
such Related-Product in the Field and in the Territory by submitting a written offer for the proposed terms of such Related-Product License (a “Related-Product Offer”) within [***] after receiving such notice (the
“Related-Product Offer Period”). If Licensee submits a Related-Product Offer to Dermavant during the Related-Product Offer Period, then Dermavant and Licensee shall enter into exclusive good faith negotiations regarding the
commercially reasonable terms for such Related-Product License for a period of [***] following Dermavant’s receipt of such Related-Product Offer (such period, as may be extended by the parties’ written agreement, the
“Related-Product Negotiation Period”). If Licensee does not submit a Related-Product Offer for such Related-Product License during the Related-Product Offer Period, then the Related-Product ROFN for such Related-Product shall
automatically expire. If Licensee submits a Related-Product Offer during the Related-Product Offer Period and the parties do not execute a written agreement for such Related-Product License during the Related-Product Negotiation Period, then either
party may, by written notice to the other party refer the matter to the parties’ respective Senior Executives for attempted resolution by good faith negotiation. If the Senior Executives are unable to agree upon such terms within [***]
following the referral to such Senior Executives, then either party may, in its sole discretion, seek final resolution of such terms through binding “baseball” arbitration, as described in and pursuant to the procedures set forth in
Section 12.5. Dermavant shall not license or offer to license any Related-Product to any Third Party for the Field in the Territory until the Related-Product ROFN for such Related-Product has expired. 

 

	3.	 GOVERNANCE 

3.1 Joint Steering Committee.

(a) Establishment and Composition. The parties activities under this Agreement shall be overseen by a Joint Steering Committee (the
“JSC”) composed of three (3) representatives of each of Dermavant and Licensee. Each party’s initial JSC members are designated as soon as practicable following the Effective Date. Each party shall be
free to change its JSC representatives on written notice to the other party, provided that each party shall ensure that, at all times during the existence of the JSC, its representatives on the JSC have appropriate expertise for the then-current
stage of development or commercialization of Product in the Field in the Territory and appropriate seniority (including at least one member of senior management) and have the authority to bind such party with respect to matters within the purview of
the JSC. 
 (b) Responsibilities and Authority. The JSC’s overall responsibility shall be to encourage and facilitate the
exchange of information between the parties as contemplated by this Agreement, and to facilitate, coordinate and oversee the development, registration and commercialization of Product in the Field in the Territory. The specific responsibilities of
the JSC shall be: 
 (i) to review and discuss amendments or updates to the Territory Development Plan in accordance with
Section 4.1; 

  
 29. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (ii) to review and discuss the protocol for each material preclinical study of
Product proposed to be conducted by or on behalf of Licensee or any of its Affiliates or Sublicensees in the Territory; 

(iii) (A) to review and discuss the protocol for each clinical trial of the Product proposed to be conducted by or on
behalf of Licensee or any of its Affiliates or Sublicensees in the Territory and (B) to approve the protocol synopsis for each such clinical trial through the JDC to which JSC delegates its responsibilities in accordance with
Section 4.1(c); 
 (iv) to facilitate the exchange of Dermavant Know-How and other
Information as contemplated by Section 2.4; 
 (v) to serve as the principal means by which (A) Licensee keeps Dermavant
reasonably informed regarding the progress and results of Licensee’s development, registration and commercialization efforts for Product in the Field in the Territory, and (B) Dermavant keeps Licensee reasonably informed regarding the
progress and results of Dermavant’s development, registration and commercialization efforts for Products in the Field in the Dermavant Territory; 

(vi) to seek harmonization in global development, regulatory approval, branding, marketing, promotion and commercialization efforts
with respect to Product in the Field, including whether to perform or allow the performance of any research, development or commercialization of Compound as a component in any Combination in Field in the Territory; 

(vii) to act as a forum for Licensee to communicate its then-current strategy for, and the status of its efforts and negotiations in
relation to, obtaining and maintain pricing and re-imbursement approvals required for the Product in the Territory, provided that, for clarity, between the parties, Licensee will be solely responsible for the
direct interactions and negotiations with any Regulatory Authority in the Territory in connection with the same; 
 (viii) to
coordinate the parties’ Product-related activities in relation to international meetings and congresses that will be attended by representatives of both parties; 

(ix) to review and discuss opportunities to support investigator-initiated studies of any Product inside and outside of the Field in
the Territory, which shall be subject to the unanimous approval by the JSC if such study is to occur prior to the First Commercial Sale of any Product in the Territory; 

(x) to establish Subcommittees as it deems necessary or advisable to further the purposes of this Agreement, to delegate to such
Subcommittees such of the JSC’s responsibilities as the JSC deems appropriate, subject to Section 3.3 and Section 3.4, and to dissolve Subcommittees and to resolve disputes referred to it by Subcommittees; and 

(xi) to carry out such other obligations as are expressly delegated to it under this Agreement. 

  
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 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 For clarity, and notwithstanding any other provision of this Article 3 or any other provision
of this Agreement to the contrary, the JSC shall have no responsibility or authority of any kind with respect to the development, registration or commercialization of Compound or Product in the Dermavant Territory. 

(c) Meetings. The JSC shall meet at least once every [***] (or at such other frequency as mutually agreed by the parties) or as
described in Section 3.5, if applicable. JSC meetings may be conducted in person at times and places to be determined by the JSC members. Alternatively, the JSC may meet by means of teleconference, videoconference or other similar
communications equipment. A reasonable number of additional representatives of a party may attend meetings of the JSC in a non-voting capacity. Each party shall bear its own expenses of participating in
meetings of the JSC. Responsibility for chairing JSC meetings shall alternate between the parties, with Dermavant chairing the first JSC meeting after the Effective Date. The chair for any JSC meeting shall not have any greater authority than any
other representative of either party on the JSC. 
 (d) Minutes. Dermavant’s Alliance Manager (or its designee) shall be
responsible for preparing minutes of each meeting and shall circulate a draft of the minutes of such meeting to all members of the JSC for comments within [***] after such meeting. Such minutes shall provide a description, in reasonable detail, of
the discussions at the meeting and shall document all actions and determinations approved by the JSC at such meeting. In addition, in the event of discussion at any JSC meeting of any new amendment or update to the Territory Development Plan, the
applicable document shall be attached to the minutes as an exhibit. The parties shall promptly discuss any comments on such minutes and finalize the minutes no later than the date of the next JSC meeting. 

3.2 JSC Decision-Making; Final-Decision Making Authority. Decisions of the JSC shall be made by unanimous vote, with each party’s
representatives on the JSC collectively having one vote. No vote of the JSC may be taken unless at least one of each party’s representatives is present for the JSC vote. If the JSC is unable to decide or resolve unanimously any matter properly
presented to it for action and that is within its authority, then, at the written request of either party, the issue shall be referred to the [***] of Dermavant and the [***] of Licensee (in each case, such party’s “Senior
Executive”) who shall promptly meet and attempt in good faith to resolve such issue within [***]. If the Senior Executives cannot resolve such matter within [***] of the date such matter is first referred to them, then, subject
to Section 3.3, Section 3.4, and the remainder of this Section 3.2 it shall be resolved as follows: 
 (a)
Licensee’s Senior Executive shall have the final decision-making authority with respect to any Territory-Specific activities related to the development of, the regulatory approval process for, or commercialization of Products in the Field
in the Territory, including amendments to the Territory Development Plan; provided, however, that Dermavant’s Senior Executive shall have the authority to veto any decision of Licensee’s Senior Executive that; (i) would be
reasonably expected to create an unnecessary risk to patient safety; or (ii) in Dermavant’s good faith discretion (following consultation with Licensee) could reasonably be expected to have an adverse effect on the development of, the
regulatory approval process for, or the commercial potential of, Compound or any product incorporating Compound (including Product) in the Dermavant Territory; and 

  
 31. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (b) Dermavant’s Senior Executive shall have the final decision-making authority
with respect to all matters related to the development of, the regulatory approval process for, and the commercialization of Compound or any product incorporating Compound (including Product) in the Dermavant Territory; provided that: 

A party’s Senior Executive, in the exercise of his or her final decision-making authority or, as applicable, veto authority, shall give good faith
consideration to, and take into account, the other party’s position. Notwithstanding any other provision to the contrary, neither the JSC, nor a Senior Executive in the exercise of the foregoing final decision-making authority, shall have the
right: (A) to modify or amend this Agreement; (B) to determine any issue in a manner that would conflict with the express terms and conditions of this Agreement, or (C) to make a decision that is expressly stated to require the mutual
written agreement or mutual written consent of the parties or an amendment to this Agreement. The parties intend that all matters within the scope of the JSC’s decision-making authority shall be resolved by the parties in accordance with this
Section 3.2, and no matter within the scope of the JSC’s authority shall be subject to the dispute resolution mechanisms set forth in Article 12. 

3.3 Scope of Authority; Decisions Requiring Mutual Consent. Notwithstanding the establishment and existence of the JSC or any
Subcommittee, each party shall retain the rights, powers and discretion granted to it hereunder, and neither the JSC nor any Subcommittee shall be delegated or vested with rights, powers or discretion unless such delegation or vesting is expressly
provided herein. Further, notwithstanding anything in Section 3.2 to the contrary, the following matters shall require unanimous approval of the JSC (not to be unreasonably withheld, delayed or conditioned), without resort to either
party’s final decision-making authority: (a) whether to allow the conduct, by or on behalf of Licensee or its Affiliates or Sublicensees, of any research, development or commercialization of a Combination or a Compound or Product other
than in the Existing Formulation in Atopic Dermatitis or Plaque Psoriasis (or any indications other than Atopic Dermatitis or Psoriasis, that has been agreed to be included pursuant to the applicable process set forth in Section 4.3 or 4.4,
which in the case of Licensee’s exercise of an Option shall require the execution by the parties of a written amendment to this Agreement or a separate agreement as described in Section 4.3(c)), (b) determination of the scope and plan for
any such research (or any expansion thereof or material change thereto), as described in Section 4.4, or (c) participation by Licensee in any investigator-initiated clinical studies of any Compound or Product prior to the First Commercial
Sale of such Product in the Territory, as described in Section 3.1(b)(ix). 
 3.4 Subcommittees; Coordination. From time to
time, the JSC may establish additional subcommittees to oversee particular projects or activities within the scope of authority of the JSC, as it deems necessary or advisable. Each Subcommittee shall be composed of an equal number of representatives
of each party, as the JSC determines is appropriate from time to time, and shall meet with such frequency as the JSC shall determine. If, with respect to a matter that is subject to a Subcommittee’s decision-making authority but that is not
specifically subject to one party’s final decision at such Subcommittee, the Subcommittee cannot reach unanimity, the matter may be referred by either party to the JSC for resolution. In addition to the JSC, the parties will

  
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 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
establish, through the JSC no later than [***] after the establishment of the JSC, (a) joint development committee (“JDC”) to coordinate development activities for Products
for each indication within the Field in the Territory to be conducted by or on behalf of Licensee, its Affiliates or its or their Sublicensees, including clinical/non-clinical development activities necessary
for obtaining and maintaining the MAAs for the Products in the Field in the Territory including, but not limited to, Phase 3 Trials in the Field in the Territory, which JDC shall (unless otherwise agreed) meet at least [***] until the First
Commercial Sale, and thereafter least once [***] (or at such other frequency as mutually agreed by the parties) or as described in Section 3.5, if applicable, (b) a joint patent committee (“JPC”) to coordinate activities
undertaken pursuant to Article 8 of this Agreement and other activities as specifically contemplated herein or those activities within the scope of the JSC’s authority that are assigned to the JPC by the JSC; and (c) a joint manufacturing
and supply committee (“JMSC”) to coordinate the entry into the Clinical Supply Agreement and Commercial Supply Agreement and the flow of information with respect to the clinical and commercial supply under this Agreement, including
the transfer of any manufacturing technology to Licensee as contemplated in Section 2.2(c), if applicable, and the provision of rolling forecasts from Licensee to Dermavant, setting forth Licensee’s expected requirements for commercial
supply of the Compound and Product prior to the entry into the Commercial Supply Agreement and the provision of forecasts thereunder. In addition, on the request of either party, well in advance of first import of the Product for commercial use in
the Field in the Territory, the JSC shall discuss in good faith and determine whether to establish a joint commercial committee to discuss and oversee the implantation of the marketing and commercialization activities in the Territory Development
Plan and to coordinate such activities with the corollary activities under the Global Development Plan. Further, when determining whether New Indication Research, Approved Combination Research or LCM Research will be pursued by the parties, the JSC
shall discuss in good faith and determine whether to establish on or more joint development committee to govern the applicable JSC-approved research. Each party agrees to use good faith efforts to coordinate
the scheduling of any meetings of the JSC and each Subcommittee with the other party in a manner intended to minimize the burden on each party and to ensure effective operation and coordination of the parties under this Agreement. 

3.5 Alliance Managers; Special Committee Meetings. Within [***] after the Effective Date, each party shall appoint (and notify the
other party of the identity of) a representative of such party to act as the primary point of contact for the parties regarding the development, registration and commercialization of Product in the Field in the Territory (each, an
“Alliance Manager”). The Alliance Managers shall be responsible for creating and maintaining collaborative, efficient, and responsive communications within and between Licensee and Dermavant. A party may replace
its Alliance Manager on written notice to the other party. If a party desires to schedule an ad-hoc meeting of the JSC or any Subcommittee to address a specific issue or matter, then the Alliance Manager of
the party that desires to call such ad-hoc meeting shall submit the relevant meeting request and summary of the reason for such request to the other party’s Alliance Manager for transmission to such other
party. Each party agrees that it will use all reasonable efforts to promptly schedule any such requested ad-hoc meeting in advance of the next to occur regularly-scheduled meeting of the JSC or such
Subcommittee. 

  
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 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

	4.	 DEVELOPMENT AND REGULATORY; ADDITIONAL
RESEARCH PROGRAMS 

 4.1 Territory Development Program.

(a) Territory Development Plan. Subject to the remainder of this Section 4.1, all of Licensee’s development of Products will
be conducted consistent with the Territory Development Plan, as such Territory Development Plan may be amended from time to time by Licensee pursuant to and in accordance with Section 4.1(b), except for those activities for which Licensee has
agreed to conduct in support of any Global Phase 2/3 Study, as contemplated in Section 4.2(b), which shall be set forth in the Global Development Plan. Licensee shall be solely responsible for conducting, [***] such Territory-Specific
development activities with respect to the Products in the Field in the Territory to support MAA filing and Regulatory Approval in the Territory, as set forth in the Territory Development Plan and the performance of its obligations under the Global
Development Plan, as applicable. Licensee shall provide the initial Territory Development Plan to Dermavant reasonably in advance of the first meeting of the JDC, which initial Territory Development Plan shall be consistent in all material respects
with the high level outline set forth on Exhibit C. Without limiting the foregoing, the Territory Development Plan shall include (i) an outline of all major development activities for Products for each indication within the Field in the
Territory to be conducted by or on behalf of Licensee, its Affiliates or its or their Sublicensees, including clinical/non-clinical development activities necessary for obtaining and maintaining the MAAs for
the Products in the Field in the Territory including, but not limited to, Phase 3 Trials in the Field in the Territory; (ii) estimated timelines for the conduct of such major development activities, as well as estimated timelines for submission
of MAA applications for the Products in each indication the Field in the Territory; and (iii) estimated timelines of any other major development activities in the Territory, and (iv) any investigator-initiated clinical studies of a Product
for which Licensee has the right to participate, as set forth in Section 3.1(b)(ix). As between the parties, but subject to the terms and conditions of this Agreement, Licensee shall be solely responsible, [***] for the performance of its
activities under the Territory Development Plan, and Licensee shall keep Dermavant reasonably informed of the status, progress and results of all material developments with respect to the Territory Development Plan activities. Licensee will not
perform any activity that Dermavant reasonably believes in good faith and following consultation with Licensee could adversely affect the development or commercialization of the Product outside the Territory. Upon Licensee’s reasonable request,
Dermavant shall provide reasonable cooperation and informal assistance to Licensee in connection with the Territory Development Plan, [***] except to the extent otherwise agreed by the parties with respect to certain activities that are specific to
the development or commercialization of the Product outside of the Territory or that falls within Dermavant’s responsibility as described in Section 4.2(a). Notwithstanding Section 2.9, if Dermavant includes, in an MAA application
submitted to a Regulatory Authority in the Dermavant Territory to obtain Regulatory Approval for a Product in an Existing Formulation in a dosage strength other than [***] for the treatment of Atopic Dermatitis or Plaque Psoriasis, utilizes
Information (other than safety data) which is generated by Licensee, its Affiliates or Sublicensees in the course of any Territory-specific development activities with respect to the efficacy of such Product in such formulation and dosage strength
in such indication in the Field on the Territory, then Dermavant shall reimburse to Licensee [***] costs and expenses incurred by Licensee to generate such Information during such Territory-specific development activities within [***] following
Dermavant’s receipt of 

  
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 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
an invoice from Licensee that documents such costs and expenses, provided that such amounts are consistent with the cost and expense information provided by Licensee at Dermavant’s request
(which information Licensee shall provide to Dermavant promptly following such a request). 
 (b) Amendments to the Territory Development
Plan. From time to time during the Term, Licensee may make amendments to the Territory Development Plan in accordance with Section 3.1 and this Section 4.1(b), with the frequency of such updates at its own discretion, which shall be
effective immediately unless the presentation to or approval of the JSC are required as set forth below. Unless otherwise agreed by the parties, the activities covered by the Territory Development Plan shall be (i) limited to Territory-Specific
development activities (which may include activities outside of the Territory within the scope of the License to the extent intended to support Territory-Specific development), and (ii) consistent with the express obligations of Licensee under
this Agreement, including Section 4.6 hereof. Notwithstanding the foregoing, Licensee shall submit any amendment proposed by Licensee involves a material change of Licensee’s or its Affiliates or Sublicensees development activities the
Territory Development Plan from those last reviewed (and as applicable, approved) to the JSC (which may include activities outside of the Territory within the scope of the License to the extent intended to support Territory-Specific development),
which shall become effective upon the date of presentation to the JSC unless approval of the JSC is required. Without limiting the foregoing, the parties expressly agree that (A) unanimous consent will be required at the JSC if any proposed
amendment would significantly change Licensee’s development strategy or result in a material decrease of its obligations, relative to the initial Territory Development Plan for the development of Product in the Territory for each of Psoriasis
or Atopic Dermatitis (or for any Product in any other indication in the Field for which specific obligations were agreed by the parties to be included under the Territory Development Plan pursuant to Section 4.3), with such agreement not to be
unreasonably withheld, delayed or conditioned, and taking into account any regulatory requirements specific to the Territory and that (B) Licensee will not propose any amendment to the Territory Development Plan that it reasonably believes
could adversely affect the development or commercialization of the Product outside the Territory without first discussing such amendment with Dermavant (and for clarity, the performance of any such activities would remain subject to the final
decision making authority of the parties, including Dermavant’s veto right in Section 3.2(a), as applicable). Any amendments to the Territory Development Plan that require the unanimous consent of the JSC will become effective upon the
date of such unanimous consent. References to the “Territory Development Plan” in this Agreement shall be construed to refer to the Territory Development Plan, as then in effect (including all amendments thereto). Without limiting the
foregoing, Licensee shall ensure that the Territory Development Plan remains reasonably current with respect to all ongoing and planned material development and commercialization activities for the Product or Compound in the Field and in the
Territory shall keep the JSC and JDC regularly informed of any amendments to the Territory Development Plan that do not require presentation to or approval of the JSC and the status, progress and results of all activities under the Territory
Development Plan. To that end, at each JSC and JDC meeting the JSC or JDC, as applicable, shall review and discuss the then-current Territory Development Plan or any upcoming material amendments thereto, and shall ensure that such Territory
Development Plan remains reasonably up-to date.  
 (c) Approval of the Protocol Synopsis
for Each Clinical Trial of the Product. If Licensee intends to conduct any clinical trial of the Product (directly or through any of its Affiliates or Sublicensees) in the Territory, Licensee shall provide an accurate English translation

  
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 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
of the protocol synopsis of such clinical trial to Dermavant for review and shall obtain Dermavant’s prior written approval through the JDC, such approval not to be unreasonably withheld,
conditioned or delayed (for clarification, withholding, conditioning or delaying the approval may be deemed reasonable if the conduct of such clinical trial (i) would be reasonably expected to create an unnecessary risk to patient safety or
(ii) in Dermavant’s good faith discretion (following consultation with Licensee) could reasonably be expected to have an adverse effect on the development of, the regulatory approval process for, or the commercial potential of, Compound or
any product incorporating Compound (including Product) in the Dermavant Territory). 
 (d) Development in the U.S. to Support the
Territory. If Licensee requests that Dermavant expand the scope of the non-exclusive licenses granted under Section 2.1(b) or Section 2.1(c) (or both) to allow the performance by or on behalf of
Licensee of specific development activities for Product in the U.S. that would be otherwise permitted by the terms of this Agreement if conducted in another country in the Dermavant Territory, then Dermavant agrees to seek in good faith any waiver
or authorization needed from any applicable Third Party in order to allow Licensee to perform or have performed such specified development activities in the U.S., and, upon its receipt of any such required waiver or authorization (or if no such
authorization or waiver is then required) will expand the license granted under Section 2.1(b) and/or Section 2.1(c), as applicable, to allow the performance of such specified development activities in the U.S., without further
consideration. Without limiting the foregoing, if Dermavant is unable to secure any such required waiver or authorization, then Dermavant and Licensee shall discuss in good faith at the JDC an arrangement by which Dermavant would perform or have
performed such specified development activities on behalf of Licensee in the U.S., all at [***] provided that the determination of whether or not to commence such performance on behalf of Licensee would be subject to Dermavant’s consent, not to
be unreasonably withheld, delayed or conditioned, and provided further that it would be unreasonable for Dermavant to withhold such consent if all of the following are true, as determined in the reasonable discretion of Dermavant: (i) the
relevant activities could not reasonably be performed by or on behalf of Licensee outside of the U.S. without incurring substantial additional costs or material delays, (ii) Dermavant is provided with sufficient lead times and resourcing as is
reasonably necessary for Dermavant (in Dermavant’s good faith determination) to secure additional capacity or personnel resources to enable Dermavant to commence or manage the commencement of such specified development activities on behalf of
Licensee without disruption of its own development activities, (iii) Licensee has agreed to pay all of the costs of such development activities and any additional internal or external costs reasonably incurred by Dermavant in connection with
Dermavant’s management or conduct of the relevant activities, and (iv) in Dermavant’s good faith discretion (following consultation with Licensee) the performance of such activities would not reasonably be expected to have an adverse
effect on the development of, the regulatory approval process for, or the commercial potential of, Compound or any product incorporating Compound (including Product) in the Dermavant Territory. 

4.2 Global Development Program. 

(a) As between the parties, Dermavant shall be solely responsible for conducting, [***]
non-clinical, clinical or any other development activities with respect to the Products in the Field to support MAA filing and Regulatory Approval for Products in the Existing Formulation at a [***] dosage for
Atopic Dermatitis and Psoriasis in 

  
 36. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
both the Territory and the Dermavant Territory, excluding any development activities that are Licensee’s responsibility as described in Section 4.1(a). Dermavant shall keep Licensee
reasonably informed of the status, progress and results of major development activities for Products in the Field conducted by or on behalf of Dermavant in the Dermavant Territory and (to the extent known by Dermavant or its Affiliates or Licensee)
such party will keep the other informed of any major development activities for Products in the Field conducted in China, Hong Kong and Taiwan. 

(b) Global Phase 2/3 Clinical Studies. If Dermavant (itself or through an Affiliate or a collaborator) desires to conduct a Phase 2
Trial or Phase 3 Trial of a Product in the Field that either (i) is designed to be undertaken in countries within the Dermavant Territory and within the Territory, or (ii) is designed to be conducted solely in the Dermavant Territory but
if expansion of such clinical trial to the Territory could reasonably be expected to generate Data that could be used to support Regulatory Approval in the Territory (each, a “Global Phase 2/3 Study”), then Dermavant shall
notify Licensee. In the event that Licensee desires to participate in any such Global Phase 2/3 Study, Dermavant and Licensee shall discuss in good faith the feasibility thereof at the JSC and, if it is feasible, the terms and conditions for
Licensee’s participation, which participation shall be subject in all cases to the consent of Dermavant in its reasonable discretion. In the event that Dermavant does so consent, then the parties shall promptly prepare a development plan that
reflects such participation and the terms of such participation (a “Global Development Plan”). 
 4.3 Additional
Indication Development.
 (a) Restrictions; Information Sharing. Licensee acknowledges and agrees that Licensee’s (and its
Affiliates’ and Sublicensees’) preclinical and clinical development and commercialization efforts for Product or Compound will only be directed to Products for Psoriasis or Atopic Dermatitis and, unless otherwise agreed pursuant to the
process set forth in this Section 4.3, will not be directed to the use of Product or Compound for any other indications in the Field, notwithstanding the scope of the License. In addition, Licensee further acknowledges and agrees that it shall
not perform any research or preclinical development on Product or Compound for use in any indication other than Psoriasis or Atopic Dermatitis, other than permitted New Indication Research or LCM Research, as set forth in Section 4.4(b) or
Section 4.4(c). Without limiting the foregoing, each party shall keep the other party reasonably informed, via the JSC and JDC, of the progress and results of its preclinical and clinical development activities, if any, for Compound or Product
in new indications in the Field (other than Psoriasis or Atopic Dermatitis), including by providing such other party, as applicable, top-line data from any clinical trial conducted by or on behalf of such
party for any Product in any indications in the Field other than Psoriasis or Atopic Dermatitis. Without limiting the foregoing, promptly following the first availability thereof (taking into account any confidentiality or contractual restrictions
with Third Parties, for which the restricted party agrees to use its reasonable commercial efforts to have released or otherwise waived), Dermavant will provide to Licensee with true and complete copies of all final reports of any significant
preclinical study or clinical trial of Compound or Product in indications in the Field other than Psoriasis or Atopic Dermatitis that are conducted by or on behalf of Dermavant. 

  
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 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (b) Additional Indication Development Rights and Option. Other than LCM Research as
set forth in Section 4.4(b), if Licensee desires to pursue clinical Product development or commercialization efforts in the Field and in the Territory for any indications other than Psoriasis or Atopic Dermatitis, then Licensee shall have, and
Dermavant hereby grants to Licensee the exclusive option, exercisable at any time during the Term on an indication-by-indication basis, to expand its activities under this Agreement to include preclinical development, clinical development and
commercialization activities for the Compounds or Products for one or more indications in the Field in the Territory other than Psoriasis or Atopic Dermatitis, which development and commercialization will occur, if at all, following the agreement of
the parties on (i) the additional financial terms applicable to any such development and commercialization of Product in such new indication in the Field and in the Territory, and (ii) any specific development activities required to be
included in the Territory Development Plan for the Product in the Territory for such new indication, and (iii) the appropriate terms related to the ownership of and related rights in and to Information and intellectual property developed by or
on behalf of Licensee in relation to such new indication, which financial terms and development obligations and intellectual property concerns shall, in each case, be consistent with those agreed by the parties as of the Effective Date for Psoriasis
and Atopic Dermatitis (as may be reasonably adjusted based on the expected market or patient populations for the Product in such indication in the Territory) (each, an “Option”). For clarity, the Option shall
not include any right to perform research for the Compound or Product in any indications in the Field other than Psoriasis or Atopic Dermatitis, which shall only be permitted, if at all, pursuant to the mechanism set forth in Section 4.4(b).

 (c) Option Exercise; Amendment; Arbitration of Terms. Subject to the terms and conditions of this Agreement, Licensee may exercise
each Option at any time during the Term by delivering written notice of such exercise (“Exercise Notice”) to Dermavant. If Licensee exercises an Option as set forth above, the parties shall negotiate in good
faith for up to [***] (as such period may be extended by mutual written agreement of the parties, the “Negotiation Period”) the financial and other material terms pursuant to which Licensee’s activities
under the License would expand to include the applicable new indication for the Product in the Field in the Territory. In the event that the parties are unable to agree upon such terms during the Negotiation Period, then either party may, by written
notice to the other party within [***] after the end of the Negotiation Period, refer the matter to the parties Senior Executives for attempted resolution by good faith negotiation. If the Senior Executives are unable to agree upon such terms within
[***] following the referral to such Senior Executives, then either party may, in its sole discretion, seek final resolution of such terms through binding “baseball” arbitration, as described in and pursuant to the procedures set forth in
Section 12.5. If Licensee would not be granted rights to develop and commercialize the Product for the applicable new indication in the Field in the Territory, Dermavant shall not perform such activities in the Field in the Territory by itself
and through any Affiliate or Third Party. 
 4.4 Licensee LCM and Combination Research Programs. 

(a) Combination Research Program. In the event that Licensee desires to perform research or
pre-clinical development activities with respect to any Combination, then Licensee shall submit to the JSC a reasonably detailed plan for the conduct of such research or development for the JSC’s review
and approval. If the JSC approves the proposed plan for such activities (any such approved research or development activities, the “Approved Combination 

  
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 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
Research”), then it shall notify the parties, and Dermavant and Licensee shall, prior to the commencement of any such Approved Combination Research, discuss and endeavor to
agree on the additional terms and conditions for such Approved Combination Research, including (i) the sharing of Information generated in the conduct of such activities, (ii) the disclosure and the allocation of rights to any Combination
Research Technology generated in connection with the performance of any Approved Combination Research, in each case, inside and outside of the Territory, which rules and procedures shall be determined by or in consultation with the JPC and subject
to any related third party agreements (in such case each party shall make commercially reasonable efforts to reach agreement with such third party regarding financial terms and the allocation of rights to intellectual property), and (iii) the
terms regarding the parties’ respective obligations and rights with respect to any identified Third Party rights or obligations related to the relevant Combination that is the subject of the Approved Combination Research, and, (iv) if
requested by either party at such time, the financial terms for the clinical development and potential commercialization of the relevant Combination, if applicable and as contemplated in Section 2.7(a).  

(i) In the event that the parties (through the JSC) are unable to agree as to whether Licensee should be permitted to perform such
Approved Combination Research, or the parties are unable to come to terms governing any such Approved Combination Research (including the terms governing the ownership and licenses to any Information, Inventions or Patents arising therefrom), then
Licensee shall have no right to perform such Approved Combination Research and neither of Dermavant nor Licensee shall have the right to develop or commercialize the Product in such Combination in the Territory during the Term. If Dermavant or its
Related Affiliates desires to file a patent application covering Licensee’s proprietary compound(s) or related Information of which Dermavant or its Related Affiliates first becomes aware as a result of the foregoing discussions, within or
outside of the Territory, then Dermavant shall consult with Licensee in advance and obtain Licensee’s written consent, which shall not be unreasonably withheld, conditioned or delayed.  

(ii) If the JSC agrees to allow the performance of such Approved Combination Research and the parties agree on the terms governing the
foregoing, then, prior to the commencement of any such activities by Licensee, the parties shall amend the Territory Development Plan and, if required, this Agreement, to include the Approved Combination Research and the agreed terms for the conduct
of the same.  
 (b) Additional New Indication Research and Development in the Existing Formulation. In the event that
Licensee desires to perform research or pre-clinical development activities with respect to the use of the Product or Compound in any Existing Formulation for any indications in the Field other than Atopic
Dermatitis or Psoriasis (or, if applicable, any other indication for which Licensee has the rights to develop and commercialize Products under this Agreement pursuant to the exercise of its Option under Section 4.3(c)), then Licensee shall
submit to the JSC a reasonably detailed plan for the conduct of such research for the JSC’s review and approval. If the parties (through the JSC) are unable to agree in good faith as to whether Licensee should be permitted to perform such
proposed research activities, then Licensee shall have no right to perform such research or pre-clinical development activities. If the JSC approves the proposed research or
pre-clinical development (any such approved research or pre-clinical development activities for the Product in an Existing Formulation in a new indication, the
“New Indication 

  
 39. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
Research”), then it shall notify the parties, and Licensee will be permitted to perform such New Indication Research, provided that prior to the commencement of any such New
Indication Research, the parties would discuss in good faith and endeavor to agree on (i) contributions of Dermavant to any such New Indication Research, (ii) the sharing of Information generated by either party in the conduct of any New
Indication Research, and (iii) the allocation of rights to intellectual property, including Patents generated in connection with such research and development, in each case, inside and outside of the Territory, which rights shall include and be
consistent with the licenses granted in Section 2.1 and 2.9, and, prior to the commencement of any such activities by Licensee, the parties shall amend the Territory Development Plan and, if required, this Agreement, to include the New
Indication Research and the agreed terms for the conduct of the same.  
 (c) New Formulation and Other Product Research. In
the event that Licensee desires to perform research or pre-clinical development that involves a Compound or Product in the Field but (i) is not described in Section 4.4(a) or Section 4.4(b), and
(ii) is not directed to the use of the Compound or Product in an Existing Formulation in any of (A) Psoriasis, (B) Atopic Dermatitis, or (C) if applicable, any other indication for which Licensee has the rights to develop and
commercialize Products under this Agreement pursuant to the exercise of its Option under Section 4.3(c), then, Licensee shall submit to the JSC a reasonably detailed plan for the conduct of such research (including the expected costs of such
research) for the JSC’s review and approval (with such approval not to be unreasonably withheld, delayed or conditioned). In the event that the parties (through the JSC) are unable to agree as to whether Licensee should be permitted to perform
such research, then Licensee shall have no right to perform such research. If the JSC approves the proposed research described above (any such approved research activities, the “LCM Research”), then it shall notify the
parties, and the following shall apply:  
 (i) If Dermavant desires to participate in and
co-fund such LCM Research, then Dermavant shall, within [***] following the JSC’s decision to permit such LCM Research, provide written notice to Licensee indicating the same, in which case the parties
would negotiate in good faith the terms governing Dermavant’s participation in such LCM Research, including (A) the sharing of Information generated in the conduct of such LCM Research, (B) the disclosure and the allocation of rights
to intellectual property and Inventions, including Patents generated in connection with the performance of any LCM Research, in each case, inside and outside of the Territory, which rules and procedures shall be determined by or in consultation with
the JPC, and (C) funding or compensation, if any, provided by either party in connection with such LCM Research or the exploitation of the LCM Research Technology. Prior to the commencement of any such jointly conducted or co-funded LCM Research, the parties shall amend the Territory Development Plan and, if required, this Agreement, to include such jointly conducted or co-funded LCM Research,
and the agreed terms for the conduct of the same.  

  
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 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (ii) If Dermavant does not elect to participate in and
co-fund any LCM Research (or does not make a timely election to participate as required pursuant to Section 4.4(c)), then Licensee may nevertheless proceed with such LCM Research and, as between the
parties, Licensee will be solely responsible for the conduct and costs of such LCM Research, subject to the following:  
 (1)
Licensee shall promptly disclose to Dermavant any material LCM Research Know-How in accordance with Section 8.1(b) and will, at such time grant (and hereby does grant) to Dermavant (on behalf of
itself and its Affiliates), a royalty free and fully paid up (except as provided in Section 11.4(c)), irrevocable, perpetual, non-exclusive license, with the right to sublicense through multiple tiers of
sublicense, under Licensee’s and its Affiliates’ interest in and to any such LCM Research Know-How to research, develop, import, offer for sale and sell Product (i) outside the Territory and
(ii) outside the Field in the Territory and (y) to manufacture and have manufactured Compound and Product to be developed or sold (i) outside the Territory and (ii) outside the Field in the Territory, which license may be
converted into an exclusive license on the request of Dermavant but no later than any applicable deadline pursuant to Section 4.4(c)(ii)(2);  

(2) If LCM Research Know-How is stated by Licensee at the    time of
disclosure to be non-patentable, Dermavant shall have the right to convert the foregoing non-exclusive license into an exclusive license set forth in
Section 4.4(c)(ii)(2)b within [***] after disclosure of such LCM Research Know-How. If LCM Research Know-How is patentable or Licensee does not state at the time of
disclosure that it is not patentable, Licensee will notify Dermavant as soon as practicable, but in all cases at least [***] in advance of filing any Patent claiming or covering any Invention within the LCM Research
Know-How, and the proposed filing date for such Patent, including a copy of the proposed filing. Dermavant will have the opportunity to discuss such Patent filing with Licensee, and shall have the right to
require Licensee to grant before or during such [***] review period, either:  
 a. a royalty-free, fully-paid, irrevocable,
perpetual, non-exclusive license, with the right to sublicense through multiple tiers of sublicense under Licensee’s and its Affiliates interest in and to the LCM Research Technology (to the extent not
already licensed to Dermavant pursuant to Section 4.4(c)(ii)(1)) to research, develop, import, offer for sale and sell Product (i) outside the Territory and (ii) outside the Field in the Territory and (y) to manufacture and have
manufactured Compound and Product to be developed or sold (i) outside the Territory and (ii) outside the Field in the Territory; or  

b. a royalty bearing, irrevocable, perpetual, exclusive license, with the right to sublicense through multiple tiers of sublicense
(but if the sublicense is to a Third Party licensee of Dermavant that has the right to develop and commercialize Products for its own account (rather than on behalf of Dermavant), then such sublicense is only permitted if the relevant Third Party
licensee grants corresponding rights to intellectual property generated by such licensee that can be exercised by Licensee under this Agreement), under Licensee’s and its Affiliates interest in and to the LCM Research Technology (including an
exclusive license to any LCM Research Know-How already licensed to Dermavant pursuant to Section 4.4(c)(ii)(1)) to research, develop, import, offer for sale and sell Product (i) outside the Territory
and (ii) outside the Field in the Territory and (y) to manufacture and have manufactured Compound and Product to be developed or sold (i) outside the Territory and (ii) outside the Field in the Territory.  

(3) In the case that Dermavant selects an exclusive license as set forth Section 4.4(c)(ii)(2)b, the parties will meet and agree
on appropriate and commercially reasonable economic terms for such grant of rights. If the parties cannot agree on the economic terms for such a conversion to an exclusive license within a [***] negotiation period 

  
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 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
following the request of Dermavant under this Section 4.4(c)(ii)(3), then Dermavant may, by written notice to Licensee refer the matter to the parties’ respective Senior Executives for
attempted resolution by good faith negotiation. If the Senior Executives are unable to agree upon such terms within [***] following the referral to such Senior Executives, then either party may, in its sole discretion, seek final resolution of such
terms through binding “baseball” arbitration, as described in and pursuant to the procedures set forth in Section 12.5.  

4.5 Compliance. In conducting any activity pursuant to this Article 4, each party shall comply with all Applicable Laws, including, as
applicable to the given activity, GLP, GCP and GMP. 
 4.6 Diligence. Licensee shall use Commercially Reasonable Efforts to conduct
Territory-Specific development appropriate to obtain Regulatory Approval for Products in each indication in the Field in the Territory, and shall use Commercially Reasonable Efforts to obtain and maintain Regulatory Approvals for, and following
receipt of such Regulatory Approvals, to commercialize the Product in each indication in the Field and in the Territory. Without limiting the generality of the foregoing, Licensee shall: (a) use Commercially Reasonable Efforts to perform the
activities set forth in the Territory Development Plan (or under the Global Development Plan, as may be agreed and allocated to Licensee pursuant to Section 4.2(b)); and (b) use Commercially Reasonable Efforts to initiate and complete such
activities within the timelines set forth therein. Licensee shall maintain offices and other facilities reasonably appropriate to carry out development of Product in the Field and in the Territory and to perform its obligations under
Section 4.2 with respect to Global Development Plan activities, if any, in each case in accordance with this Agreement, and Licensee shall devote qualified personnel and other appropriate resources to such activities. 

4.7 Records. Licensee shall prepare and maintain, or shall cause to be prepared and maintained, in conformity with standard
pharmaceutical and biotechnology industry practices and the terms and conditions of this Agreement, complete and accurate written records, accounts, notes, reports and data (including Data) with respect to all development activities with respect to
the Compound or Products in the Field in the Territory. 
 4.8 Regulatory Activities in the Territory. Subject to
Section 4.9(b), Licensee shall be solely responsible for preparing, filing, obtaining and maintaining all Product Filings for Products in the Territory, [***] and shall be the sole holder of all Product Filings for Products in the
Territory, provided that Licensee shall provide English translations of final drafts of the protocol synopsis and all key points for related INDs and the key points of MAAs to Dermavant for review and comment and shall consider
Dermavant’s comments thereon in good faith. Licensee shall promptly provide Dermavant with copies, and English summary descriptions, of all material documents, information and correspondence received from any Regulatory Authority in the
Territory relating to Product or Compound and, at Dermavant’s request, copies of any other documents, reports and communications from or to any such Regulatory Authority relating to Product or Compound. Further, the parties understand and agree
that Dermavant may require Licensee to provide accurate English translations of certain material correspondence delivered to or received from the Regulatory Authorities in the Territory relating to Product or Compound (in addition to the English
summary descriptions that Licensee is required to provide pursuant to the above) and the parties agree to work in good faith (through the JDC) to determine 

  
 42. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
an appropriate process for Dermavant to request and obtain any such translations from Licensee, taking into account the requirements of Dermavant and the burden and cost to Licensee in providing
such translations. [***] incurred in connection with regulatory activities with respect to Product in the Field in the Territory, and Licensee shall have responsibility for all interactions with Regulatory Authorities in the Territory with respect
to Product in the Field in the Territory and for all compliance filings, certificates, and safety reporting with respect to Product in the Field in the Territory. Licensee shall also obtain any approvals required by Regulatory Authorities in the
Territory to import or export Product to or within the Territory.  
 4.9 Access to Regulatory Filings. 

(a) Licensee shall promptly provide to Dermavant true and complete accurate English translations of all INDs and MAAs (to the extent
newly generated by or on behalf of Licensee or its Affiliates or Sublicensees) for Product filed by or on behalf of Licensee or its Affiliates or Sublicensees with Regulatory Authorities in the Territory and all Regulatory Approvals received for
Product from Regulatory Authorities in the Territory. Licensee hereby grants to Dermavant Rights of Reference to all such Product Filings for the purposes of: (i) obtaining and maintaining Regulatory Approvals for Compound and Product in the
Dermavant Territory; (ii) obtaining and maintaining Regulatory Approvals for any product incorporating Compound (other than Product) in the Territory; (iii) the manufacture of Compound or Product for use or distribution anywhere in the
world; and (iv) complying with applicable pharmacovigilance and other regulatory requirements with respect to the Product and activities described in the preceding clauses (i) through (iii). Without limiting the foregoing, if a certified
English translation of any IND or MAA filed by or on behalf of Licensee in the Territory for the Product or Compound is reasonably necessary for Dermavant’s regulatory purposes, then on Dermavant’s written request, Licensee will, as soon
as practicable seek and obtain such certified English translation, and provide such certified English translation to Dermavant, provided that Dermavant will be responsible for reimbursing Licensee for [***] of the costs reasonably incurred by
Licensee in connection with obtaining such certified English translations, which amounts shall be paid by Dermavant within [***] following Dermavant’s receipt of an invoice for any such undisputed amounts. 

(b) Dermavant shall promptly provide to Licensee true and complete copies of all Product Filings for Product filed by or on behalf of
Dermavant or its Affiliates or Sublicensees in the U.S. or with the European Medicines Agency (or any successor agency). Dermavant hereby grants to Licensee the Rights of Reference to all such Product Filings for the purposes of: (i) obtaining
and maintaining Regulatory Approvals for Product in the Field in the Territory; (ii) manufacturing Product for use or distribution in the Field in the Territory under the Manufacturing License, following the grant of such Manufacturing License,
if applicable, and (iii) complying with applicable pharmacovigilance and other regulatory requirements with respect to Product in the Territory. 

(c) Each party shall, promptly upon request of the other party, file with applicable Regulatory Authorities such letters of
authorization, access or cross-reference as may be necessary to accomplish the intent of this Section 4.9. 

  
 43. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 4.10 Global Safety Database; Pharmacovigilance; Adverse Event Reporting.

(a) Global Safety Database. As between the parties, Dermavant will hold, solely own and be solely responsible for maintaining the global
safety database for Product.     
 (b) Safety Data and Exchange Agreement. No later than the anticipated date of
commencement of the first clinical trial of Product in the Field in the Territory, the parties shall negotiate in good faith and enter into a safety data exchange agreement regarding the Product, which shall set forth standard operating procedures
governing the collection, investigation, reporting, and exchange of information concerning adverse drug reactions/experiences sufficient to permit each party to comply with its regulatory and other legal obligations within the applicable timeframes.
Such agreement’s terms and conditions shall: (i) be no less stringent than U.S., Japan, and ICH guidelines, such that each party shall be able to comply with all regulatory and legal requirements regarding the management of safety data by
providing for the exchange of relevant information in appropriate format within applicable timeframes, and (ii) provide Licensee with, at a minimum, the same level of access to Benvitimod safety data generated in any of China, Hong Kong and
Taiwan as Dermavant is entitled to receive under its safety data exchange agreement with the Third Party that has the right to commercialize Benvitimod in China, Hong Kong and Taiwan, which in any case shall be sufficient to meet the requirements in
the Territory. Subject to the foregoing, each party shall be responsible for monitoring all clinical experiences with respect to Product in the course of its own Product development activities and filing all required reports with respect thereto in
its respective territory (i.e., with respect to Licensee, in the Territory, and with respect to Dermavant, in the Dermavant Territory). 

(c) Adverse Event Reporting. As between the parties: (i) Licensee shall be responsible for the timely reporting of adverse drug
reactions/experiences, and safety data relating to Product to the appropriate Regulatory Authorities in the Territory; and (ii) Dermavant shall be responsible for reporting adverse drug reactions/experiences, and product safety data relating to
Product to the appropriate Regulatory Authorities in the Dermavant Territory; in each case ((i) and (ii)) in accordance with Applicable Laws of the relevant countries and Regulatory Authorities. Each party shall use Commercially Reasonable Efforts
to ensure that its Affiliates, licensees and sublicensees comply with such reporting obligations. Licensee shall promptly consult with Dermavant regarding all drug-related serious adverse event reports originating in the Territory and reasonably
consider any input from Dermavant prior to finalizing serious adverse event reports for such events and/or making any submission to a Regulatory Authority regarding such events, to the extent practically possible. 

4.11 Regulatory Cooperation. Each party shall use Commercially Reasonable Efforts to provide the other party with all reasonable
assistance and take all actions reasonably requested by such other party, without changing the allocation of responsibilities set forth in this Article 4, that are necessary or desirable to enable: (a) Licensee to obtain and maintain Regulatory
Approvals for Product in the Field in the Territory; and (b) Dermavant to obtain and maintain Regulatory Approvals for (i) any product that incorporates Compound in the Dermavant Territory; and (ii) any product that incorporates
Compound (other than Product) in the Territory to the extent consistent with this Agreement. Each party further agrees to cooperate with any inspection by any Regulatory Authority relating to Product, including, but not limited to, any inspection
prior to approval of an application for Regulatory Approval for Product. 

  
 44. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 4.12 Dermavant’s Change of Control. In the event that Dermavant or its Affiliate
undergoes a Change of Control with a Third Party [***]. 
 4.13 Commercialization in the Territory. Subject to the terms and
conditions of this Agreement, Licensee shall control and be solely responsible, [***] for marketing, promotion and commercialization of Product in the Field in the Territory. 
  

	5.	 PAYMENTS; PAYMENT REPORTS 

5.1 Upfront License Payment. Within [***] after the later of (a) the Effective Date and (b) receipt from Dermavant of an
appropriate invoice and all completed tax documents to file with tax authorities in Japan in order to reduce Dermavant’s liability (“Tax Documents”) for the amount payable to Dermavant under this Section 5.1,
Licensee shall pay to Dermavant a non-refundable, non-creditable upfront payment in the amount of Sixty Million Dollars ($60,000,000) (the “Upfront
Payment”). Without limiting the foregoing, Licensee shall initiate a wire transfer in the full amount of the Upfront Payment to Dermavant within [***] following the later of (i) the Effective Date and (ii) receipt from
Dermavant of an appropriate invoice and Tax Documents for the amount payable to Dermavant under this Section 5.1, and shall provide notice to Dermavant immediately following the initiation of such transfer. 

5.2 Development Milestone Payments. Within [***] following the first achievement of each of the milestone events set forth in the table
below (each, a “Development Milestone Event”), Licensee shall provide Dermavant with written notice of such achievement. Within [***] upon receipt from Dermavant of an appropriate invoice and all completed Tax
Documents for the relevant amount payable to Dermavant under this Section 5.2, Licensee shall pay to Dermavant the corresponding non-refundable, 

  
 45. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
non-creditable milestone payment set forth in such table (each, a “Development Milestone Payment”). Licensee will use
Commercially Reasonable Efforts to achieve each Development Milestone Event: 
  

			
	 Development Milestone Event
	  	 Development Milestone Payment

(in Dollars)

	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]

 Each Development Milestone Payment will be payable only one (1) time and, for the avoidance of doubt, no more than
Fifty-Three Million United States Dollars ($53,000,000) in milestone payments shall be payable under this Section 5.2.  

5.3 Product Transfer Price Payments for Commercial Supply of Product. 

(a) Transfer Price. In consideration of Dermavant’s commercial supply of Product to Licensee under the Commercial Supply Agreement,
except as set forth in Section 5.4, and subject to any applicable reduction set forth in Section 5.5, Licensee shall pay to Dermavant a purchase price for Licensee’s purchase of each unit of Product (the “Product Transfer
Price”) equal to:  
 (i) During the Initial Transfer Price Term, if applicable to such Product, the Cost
of Goods for each such unit of Product plus a markup of [***];  

  
 46. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (ii) During the Transfer Price Payment Term for such Product, the applicable Product
Transfer Price percentage set forth in the table below of the annual Net Sales for such Product: 
  

			
	 Annual Net Sales
	  	 Product Transfer Price Percentage

	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]
	 [***]
	  	[***]

 (iii) Following the expiration of Transfer Price Payment Term, for each such unit of Product, an amount
equal to the Cost of Goods for each such unit of Product plus a markup of [***].  
 (b) Payment of Product Transfer
Prices; Reports. 
 (i) Estimated Transfer Price during Transfer Price Payment Term. No later than [***] before the beginning of
the calendar year in which Licensee is expected to file an MAA for a particular Product in the Territory (or, for the first Product in the Field in the Territory, no later than [***] before the end of the calendar year in which the First Commercial
Sale has occurred) and each subsequent calendar year before the end of the Transfer Price Payment Term, Licensee shall calculate and report to Dermavant the estimated average per unit Net Sales for such Product in the Territory for
such calendar year based on the expected Net Sales of the Product in the Territory (such estimated average per unit Net Sales shall be referred to the “ENS”). The ENS shall be calculated based on [***]. 

(ii) Initial Purchase Price Payments during Transfer Price Payment Term. For all units of Product delivered to Licensee in a given
calendar month for commercial sale pursuant to the Commercial Supply Agreement, promptly after Dermavant delivers such Product to Licensee, Dermavant shall invoice Licensee an amount equal to the applicable Cost of Goods of the Product for such
units, based on the applicable time period set forth in Section 5.3(a) during which the Product is being delivered (the “Initial Purchase Price Payment”). Licensee shall pay all undisputed amounts in such invoice no
later than [***] after receipt of the invoice. In the event Licensee disputes one or more items in an invoice, Licensee will promptly notify Dermavant in writing and such notice shall contain a reasonably detailed description of the item(s) being
disputed and the basis therefor. Dermavant will promptly respond to Licensee and the parties will use good faith efforts to promptly resolve the dispute. Amounts determined to be owed following resolution will be paid to Dermavant within [***] of
resolution of the dispute.  

  
 47. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (iii) Secondary Purchase Price Payments during Transfer Price Payment Term. No later
[***] prior to the beginning of each calendar quarter during the Transfer Price Payment Term, Licensee shall provide Dermavant with the estimated portion of ENS to be sold in the applicable calendar quarter and Dermavant shall invoice Licensee an
amount equal to [***] of the estimated Product Transfer Price (less the applicable COGS already paid or payable to Dermavant) based on such estimated portion of the ENS (the “Secondary Purchase Price Payment”). No later than
[***] after receipt of an appropriate invoice, Licensee shall pay all undisputed amounts in such invoice. In the event Licensee disputes one or more items in an invoice, Licensee will promptly notify Dermavant in writing and such notice shall
contain a reasonably detailed description of the item(s) being disputed and the basis therefor. Dermavant will promptly respond to Licensee and the parties will use good faith efforts to promptly resolve the dispute. Amounts determined to be owed
following resolution will be paid to Dermavant within [***] of resolution of the dispute. 
 (iv) Transfer Price Reports and
Reconciliation Payments during Transfer Price Payment Term. Within [***] after the end of each calendar quarter during which there are Net Sales of Product in the Territory, Licensee shall prepare and send to Dermavant a report stating:
(a) the total amount of Net Sales of each Product during such calendar quarter, and the detailed and total deductions from gross amounts invoiced (or otherwise charged) to arrive at such Net Sales; (b) the sales in units of each Product
and gross amounts invoiced for such sales, on a Product-by-Product basis during such calendar quarter; (c) the total amount of Product used as samples or as part of
compassionate use, named patient use or indigent patient program (and specifying the total amount of Product used in each such way); (d) the total amount of Initial Purchase Price Payments paid by Licensee to Dermavant upon invoice (as provided
above under Section 5.3(b)(ii)) for the delivery of such Products to Licensee; (e) a detailed description of the inventory of Product being held at by Licensee or its Affiliates or Sublicensees at the end of such calendar quarter; and
(f) the total amount owed by Licensee to Dermavant, if any, taking into account the Initial Purchase Price Payment and the Secondary Purchase Price Payment already made to Dermavant. The parties agree that each of the quarterly reports to be
provided by Licensee to Dermavant pursuant to this Section shall be broken down to report all gross invoiced sales and Net Sales on a Product-by-Product basis. Within
[***] after the end of each calendar quarter during which there are Net Sales of Product in the Territory, Licensee shall pay Dermavant an amount equal to the following (provided that such following amount is a positive number): the sum of the
applicable Product Transfer Prices for all units of Product sold during such calendar quarter, minus the sum of the applicable Initial Purchase Price Payments and Secondary Purchase Price Payments made for such units of Product based on the ENS (the
portion of such payment attributable to each unit of Product, the “Reconciliation Purchase Price Payment”). For clarity, the parties acknowledge and agree that in any event for each unit of Product delivered by Dermavant to
Licensee under the Commercial Supply Agreement and sold by Licensee, its Affiliates or its and their Sublicensees, to generate Net Sales, the Initial Purchase Price Payment for such unit of Product plus the Secondary Purchase Price Payment and the
Reconciliation Purchase Price Payment for such unit of Product shall equal the Product Transfer Price for such unit of Product. [***]. 

  
 48. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (v) Payments and Invoicing for Products outside of Transfer Price Payment Term. For
all units of Product delivered to Licensee in a given month for commercial sale pursuant to the Commercial Supply Agreement that are being supplied outside of the Transfer Price Payment Term, promptly after Dermavant delivers such Product to
Licensee, Dermavant shall invoice Licensee an amount equal to the applicable Product Transfer Price for such units. Licensee shall pay all undisputed amounts in such invoice no later than [***] after receipt of the invoice. In the event Licensee
disputes one or more items in an invoice, Licensee will promptly notify Dermavant in writing and such notice shall contain a reasonably detailed description of the item(s) being disputed and the basis therefor. Dermavant will promptly respond to
Licensee and the parties will use good faith efforts to promptly resolve the dispute. Amounts determined to be owed following resolution will be paid to Dermavant within [***] of resolution of the dispute. 

5.4 Royalty in Lieu of Product Transfer Price. In the event that Dermavant is no longer responsible for the supply of Product to
Licensee under this Agreement or the Commercial Supply Agreement, Dermavant shall continue to receive an amount in royalty payments consistent with the applicable Product Transfer Price (taking into account the reasonable costs incurred by Licensee
to manufacture or have manufactured the Product), which shall be negotiated and agreed in good faith by the parties for the period within the Transfer Price Payment Term. In the event that the parties are unable to agree upon the foregoing royalty
payments within [***] following the initiation of discussions regarding the same, then either party may, by written notice to the other party refer the matter to the parties’ respective Senior Executives for attempted resolution by good faith
negotiation. If the Senior Executives are unable to agree upon such terms within [***] following the referral to such Senior Executives, then either party may, in its sole discretion, seek final resolution of such terms through binding
“baseball” arbitration, as described in and pursuant to the procedures set forth in Section 12.5.  

5.5 Transfer Price Reductions. 

(a) Third Party Licenses. Subject to the remainder of this Section 5.5, and the rights and obligation of the parties set forth in
Section 8.10, in the event that Licensee or its Affiliate or Sublicensee (as applicable) is required to obtain one or more licenses under any Patent of Third Parties that are necessary for the manufacture, approved use, sale, offer for sale or
import of a given Product in the Territory (each a “Third Party License”), then [***] of the royalties actually paid by Licensee or such Affiliate or Sublicensee (as applicable) under such Third Party Licenses
with respect to sales of such Product in the Territory in a given calendar quarter will be creditable against the Product Transfer Price payable by Licensee to Dermavant with respect to Product sold in such calendar quarter; provided,
however, that in no event will the Product Transfer Price payable by Licensee to Dermavant hereunder with respect to any unit of Product sold during such calendar quarter be reduced to less than the Cost of Goods for such unit of Product
plus a markup of [***]; provided further that if any calendar quarter Licensee cannot apply any of the reductions permitted under this Section 5.5(a) as a result of the foregoing [***] reduction limitation, then Licensee may carry
over such amount to any subsequent calendar quarter and reduce the Product Transfer Price payment due for such calendar quarter, subject always to the restrictions of the Section 5.5(a) and, if applicable, Section 5.5(b). 

  
 49. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (b) Equitable Price Reduction Discussion Right. If, prior to the expiration of
Regulatory Exclusivity for a given Product in the Territory, (i) a Regulatory Authority in the Territory sets a Tax-adjusted Yakka Price for Product that is more than a [***] decrease of the price set at
the time of the first Regulatory Approval for such Product in the Territory or (ii) a Regulatory Authority in the Territory sets an Tax-adjusted Yakka Price for Product that is equal to or lower than
[***] per gram within [***] after the time of the First Commercial Sale for such Product in the Territory or (iii) the ratio of the Cost of Goods plus [***] to the total gross amounts amount billed or invoiced any Selling Party for sales or
other dispositions of Products to Third Parties is equal to or more than [***] and in each case ((i) through (iii)), such event causes it to be no longer commercially viable for Licensee to continue development of or marketing Product in the Field
in the Territory based on the Product Transfer Price payable under this Agreement, (an “Adjustment Event”), then upon either party’s request, in an effort to allow Licensee to continue the development of or marketing
Product in the Field in the Territory in a manner that is commercially viable for each party, both parties agree (x) in the event that the Adjustment Event (i) or (ii) above occurs, to discuss in good faith an equitable reduction of the
‘Product Transfer Price Percentages’ set forth in the table in Section 5.3(a)(ii) and the foregoing reduction limitation set forth in Section 5.5(a) and (y) in the event that the Adjustment Event (iii) above occurs, to
discuss in good faith an equitable solution to address such Adjustment Event. For clarity, this Section 5.5 is intended only to facilitate good faith discussions between the parties following the occurrence of an Adjustment Event, and nothing
in this Section 5.5 is intended to obligate or require either party agree to any adjustment, solution or reduction or modification of any rights or obligations of either party under this Agreement unless doing so is the outcome of the good
faith discussions. 
 5.6 Exchange Rate; Manner and Place of Payment. Unless otherwise expressly stated in this Agreement, all
payments to Dermavant under this Agreement shall be made by bank wire transfer in immediately available funds to an account designated in writing by Dermavant. Payments hereunder shall be considered to be made as of the day on which they are
received by Dermavant’s designated bank. Unless otherwise expressly stated in this Agreement, all amounts specified to be payable under this Agreement are in United States Dollars and shall be paid in United States Dollars. If any currency
conversion shall be required in connection with the calculation of amounts payable hereunder, such conversion shall be calculated at the rate of exchange for such currency used throughout Licensee’s accounting system in conformity with
Accounting Standards for the calendar quarter for which payment is due. All payments owed under this Agreement shall be made by wire transfer to a bank and account in [***] designated in writing by Dermavant, unless otherwise specified in writing by
Dermavant.  
 5.7 Late Payments. In the event that any payment due under this Agreement is not made when due, the
payment shall accrue interest at a rate per annum that is [***] for the period from the due date for payment until the date of actual payment; provided, however, that in no event shall such rate exceed the maximum legal annual interest rate.
The payment of such interest shall not limit Dermavant from exercising any other rights it may have as a consequence of the lateness of any payment. 

  
 50. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 5.8 Audits.

(a) Audit by Dermavant. Licensee shall keep, and shall cause its Affiliates and Sublicensees to keep, complete and accurate records
pertaining to the sale or other disposition of Products in sufficient detail to permit Dermavant to confirm the accuracy of all payments due hereunder, for at least [***] following the end of the calendar year to which they pertain. Dermavant shall
have the right, once annually, to cause an independent, certified public accountant reasonably acceptable to Licensee or its Affiliate or Sublicensee, as applicable, to audit such records to confirm Net Sales, the timing of achievement of
Development Milestone Events, and any Product Transfer Price payments (including any Initial Purchase Price Payment, Secondary Purchase Price Payment or Reconciliation Purchase Price Payment) for a period covering not more than the preceding [***].
No records with respect to a particular calendar year shall be subject to audit under this section more than once. Such audits may be exercised during normal business hours upon reasonable prior written notice to Licensee or its Affiliate or
Sublicensee, as applicable. The auditor will execute a reasonable written confidentiality agreement with Licensee or its Affiliate or Sublicensee, as applicable, and will disclose to Dermavant only such information as is reasonably necessary to
provide Dermavant with information regarding any actual or potential discrepancies between amounts reported and actually paid and amounts payable under this Agreement, including the timing thereof. If such audit reveals that Licensee has failed to
accurately report information pursuant to Section 5.3(b), or to make any payment (or portion thereof) when due under this Agreement, then Licensee, within [***] after receipt of the final audit report, shall pay to Dermavant any underpaid
amounts due under this Agreement, together with interest on such underpaid or late amounts calculated in accordance with Section 5.7. [***] unless such audit discloses an underpayment by Licensee of more than [***] of the amount due for any
calendar year under this Agreement, in which case [***]. If such audit discloses an overpayment by Licensee, then Licensee will deduct the amount of such overpayment from amounts otherwise owed to Dermavant under this Agreement or, to the extent
such deduction is not available, Licensee may request (and Dermavant shall promptly provide) a refund of the overpaid amounts to Licensee, following its receipt of an invoice for any such undisputed overpaid amounts. 

(b) Audit by Licensee for COGs. In addition to the provisions stipulated in Article 6, the Clinical Supply Agreement and the Commercial
Supply Agreement, Dermavant shall keep, and shall cause its Affiliates to keep, complete and accurate records pertaining to the Cost of Goods of Compounds and/or Products in sufficient detail to permit Dermavant to confirm the accuracy of all
payments (including internal costs and out-of-pocket expenses) due hereunder, for at least [***] following the end of the calendar year to which they pertain. Licensee
shall have the right, once annually, to cause an independent, certified public accountant reasonably acceptable to Dermavant or its Affiliates, as applicable, to audit such records for a period covering not more than the preceding [***]. No records
with respect to a particular calendar year shall be subject to audit under this section more than once. Such audits may be exercised during normal business hours upon reasonable prior written notice to Dermavant or its Affiliate, as applicable. The
auditor will execute a reasonable written confidentiality agreement with Dermavant or its Affiliate, as applicable, and will disclose to Licensee only such information as is reasonably necessary to provide Licensee with information regarding any
actual or potential discrepancies between amounts reported and actually paid and 

  
 51. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
amounts payable under this Agreement in relation to the Cost of Goods of Dermavant. If such audit reveals that there is any discrepancy in which Licensee has made an overpayment, such discrepancy
shall be adjusted from the next payment under this Agreement without any interest. Licensee shall bear the full cost of such audit unless such audit discloses an underpayment by Licensee of more than [***] of the amount due for any calendar year
under this Agreement, in which case Dermavant shall bear the full cost of such audit. 
 5.9 Taxes; Cooperation. The parties agree to
cooperate with one another in accordance with Applicable Laws and use reasonable efforts to minimize Tax withholding or similar obligations in respect of payments made under this Agreement. The parties acknowledge and agree that under the
current tax treaty between Japan and Switzerland in effect as of the Effective Date, the Upfront Payment, Development Milestone Payments, Product Transfer Price, and all other amounts payable by Licensee to Dermavant pursuant to this
Agreement (each, a “Payment”) shall [***] (collectively, “Taxes”); provided, however, if it is required by Applicable Laws to impose an obligation on Licensee to deduct or withhold Taxes directly from
any amount paid to Dermavant, then Licensee will deduct or withhold the required amount and will timely pay the full amount deducted or withheld to the relevant governmental authority in accordance with the Applicable Laws, and [***].
Notwithstanding the foregoing, to the extent Licensee or its Affiliates [***]. In the event Applicable Laws require Taxes be deducted or withheld, Licensee will provide reasonable assistance and documentation to allow [***]. Each party will use
reasonable efforts to provide the other with information requested by the other party that is required by the other party for the purpose of filing applicable tax returns. 
  

	6.	 MANUFACTURING AND SUPPLY 

6.1 General. Subject to the terms and conditions of this Agreement, the Clinical Supply Agreement, the Commercial Supply Agreement and
related quality agreements, including Section 2.2(b) with respect to any Licensee Formulation, Dermavant shall sell and supply, or cause to be supplied, to Licensee, and Licensee shall purchase exclusively from Dermavant: (a) all of
Licensee’s, its Affiliates’ and its and their Sublicensees’ requirements of Product for clinical and non-clinical trials and other development and registration activities in the Territory, as
described 

  
 52. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
in additional detail in Sections 6.2 and 6.4; and (b) all of Licensee’s, its Affiliates’ and its and their Sublicensees’ requirements of Product for commercial distribution in
the Territory, as described in additional detail in Sections 6.3 and 6.4. Each party acknowledges that packaging and labeling requirements in the Territory may make it unduly burdensome, costly or otherwise impracticable for Dermavant to supply
Product to Licensee in final packaged and labeled form, and that accordingly, the parties shall subsequent to the Effective Date determine the form of supply of the Products based upon Licensee’s demonstrated commercial requirements and
Dermavant’s CDMO’s capabilities; provided, that Dermavant shall have no obligation to supply Product to Licensee in final packaged or labeled form unless and until agreed to by Dermavant, and Licensee shall be responsible, [***] for
any packaging and labeling of the Products (to the extent not otherwise conducted by or Dermavant) in accordance with the Applicable Laws in the Territory. In addition, in the event that any Development Services are requested by Licensee, Dermavant
will use Commercially Reasonable Efforts to (i) in the case of Product manufactured by one or more Dermavant CDMOs, have perform of such Development Services (including supply of the Compound) pursuant to its agreement(s) with any such
Dermavant CDMO, and (ii) in the case of Product manufactured by Dermavant or its Affiliate, perform or have perform such Development Services (including supply of the Compound); provided that, in each case ((i) and (ii)), and unless otherwise
agreed by the parties, [***]. 
 6.2 Clinical Supply. Dermavant shall manufacture, or have manufactured, and supply, or have
supplied, to Licensee, Product for use in clinical and non-clinical trials and other development and registration activities with respect to Product in the Field in the Territory, in accordance with a clinical
supply agreement to be negotiated in good faith and entered into by the parties as soon as practicable following the Effective Date (the “Clinical Supply Agreement”). The Clinical Supply Agreement shall be negotiated in good
faith by the parties and shall be on commercially reasonable terms consistent with the terms of this Agreement and the Supply Terms set forth on Exhibit B hereto. In any event, the Clinical Supply Agreement shall be consistent with, and shall
be designed to permit Dermavant to comply with its obligations under, Dermavant’s corresponding supply agreement(s) with its Third Party CDMO(s) of Compound and Product (“Dermavant CDMO(s)”), and shall not impose on
Dermavant obligations with respect to Product manufactured by any Dermavant CDMO that are in excess of such Dermavant CDMO’s obligations to Dermavant with respect to Product. Further, and without limiting Section 6.1, the Clinical Supply
Agreement will reflect the principles and terms set forth in Section 6.3(a) - 6.3(e) in each case, mutatis mutandis, and Section 6.4. On the reasonable request of Licensee, Dermavant will use reasonable efforts to attempt to
negotiate with any of the Dermavant CDMOs responsible for manufacturing Product for supply pursuant to the Clinical Supply Agreement, in the event that Dermavant’s agreement with such Dermavant CDMO prevents Licensee from fully exploiting its
rights under the License, provided that Dermavant shall not be required to pay any amounts with respect to the same. 
 6.3 Commercial
Supply. No later than [***] prior to the anticipated first NDA filing in the Territory for the Product, the parties shall negotiate in good faith and endeavor to enter into a separate written commercial supply agreement, pursuant to which,
subject to this Sections 6.3 and Section 6.4, Dermavant will manufacture, or have manufactured, and supply, or have supplied, to Licensee, Product for commercial distribution in the Field and in the Territory (the

  
 53. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
“Commercial Supply Agreement”). The Commercial Supply Agreement shall be negotiated in good faith by the parties and shall be on commercially reasonable terms consistent
with the terms of this Agreement and the Supply Terms set forth on Exhibit B hereto. In any event, the provisions of the Commercial Supply Agreement shall be consistent with, and shall be designed to permit Dermavant to comply with its
obligations under, Dermavant’s corresponding supply agreement(s) with all Dermavant CDMOs, and shall not impose on Dermavant obligations with respect to Product manufactured by any Dermavant CDMO that are in excess of such Dermavant CDMO’s
obligations to Dermavant with respect to Product. On the reasonable request of Licensee, Dermavant will use reasonable efforts to attempt to negotiate with any of the Dermavant CDMOs responsible for manufacturing Product for supply pursuant to the
Commercial Supply Agreement, in the event that Dermavant’s agreement with such Dermavant CDMO prevents Licensee from fully exploiting its rights under the License, provided that Dermavant shall not be required to pay any amounts with respect to
the same. Subject to, but without limiting the generality of, the foregoing, the Commercial Supply Agreement shall: 
 (a) obligate
Licensee to order, purchase and pay for Product in certain minimum order quantities (which may be based on whole lots or batches); 
 (b)
specify the lead time required for manufacture and supply of each batch or lot of Product; 
 (c) address such other matters as
are customary for commercial supply agreements with respect to pharmaceutical products, such as forecasting requirements (including rolling forecasts with binding and non-binding portions), firm orders,
procedures for order submission, delivery, acceptance and rejection, quality matters, regulatory matters, and, subject to the final paragraph of this Section 6.3, warranty; 

(d) provide for the parties to enter into an appropriate quality agreement for Product in compliance with GMP and Applicable Laws in
the Territory and local market standards; and 
 (e) the Commercial Supply Agreement shall not obligate Dermavant to provide any
representations or warranties with respect to Product, or remedies for non-conforming Product, manufactured by any Dermavant CDMO beyond those representations, warranties and remedies provided by such
Dermavant CDMO to Dermavant for such Product, and Dermavant shall be entitled to all disclaimers of warranties, limitations of liability and other limitations on liability to which such Dermavant CDMO is entitled with regard to supply of such
Product, provided that all such representations, warranties and remedies provided by such Dermavant CDMO are either enforceable by Licensee or enforced by Dermavant for the benefit of Licensee. Dermavant shall have no obligation to amend or
renegotiate any manufacturing and supply agreement with any Dermavant CDMO for Product existing at the Effective Date except to the extent necessary to obligate such Dermavant CDMO to manufacture such Product for use in the Territory;
provided, that, to the extent the terms of any agreement between Dermavant and any Dermavant CDMO are insufficient to (a) permit the supply of the Product in the Field in the Territory in accordance with Applicable Law or (b) comply
with local market standards in the Territory applicable to commercialization, then Dermavant will use Commercially Reasonable Efforts to amend such Dermavant CDMO agreements or make such other arrangements, in each case, as necessary to reasonably
address such insufficiencies. 

  
 54. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 6.4 Supply Price. The transfer price for Product supplied by or on behalf of Dermavant
(a) pursuant to the Clinical Supply Agreement shall be equal to [***] and (b) pursuant to the Commercial Supply Agreement shall be at [***]. Dermavant shall use Commercially Reasonable Efforts to reduce the Cost of Goods for Product;
provided, that such obligation shall not require Dermavant to obtain supply of Product from a new CDMO. 
 6.5 Selection of a
Contract Manufacturer. In the event that Dermavant plans to change the Dermavant CDMO after the Effective Date, Dermavant shall promptly notify Licensee and shall provide Licensee with any information reasonably requested by Licensee as well as
to arrange site visits to evaluate such Dermavant CDMO. 
 6.6 Accreditation. Dermavant and Licensee acknowledge that, pursuant to
Applicable Law, the manufacturing sites for the Compound and Product, including any test or storage facilities, are required to be accredited as of the time when Licensee files for Regulatory Approval for the Product in the Territory. In order to
assist Licensee in obtaining Regulatory Approval for the Product in the Territory, Dermavant shall (i) cooperate reasonably with Licensee to apply for, or use Commercially Reasonable Efforts to cause Dermavant CDMOs to apply for, or
(ii) permit Licensee to apply on Dermavant’s behalf for, or use Commercially Reasonable Efforts to cause Dermavant CDMOs to permit Licensee to apply for, on their behalf, accreditation to the Regulatory Authorities in the Territory, prior
to Licensee’s anticipated date for the filing of a NDA for the Product in the Territory. In the case of application by Licensee on behalf of Dermavant and/or Dermavant CDMOs, Dermavant shall provide, and shall use Commercially Reasonable
Efforts to cause Dermavant CDMOs to provide, Licensee with all documents and information available to Dermavant or Dermavant CDMOs and reasonably appropriate to support accreditation requested by the Licensee in a timely manner. In the event that
Dermavant or the Dermavant CDMOs makes changes with respect to the following matters after the accreditation, Dermavant shall notify, or shall cause Dermavant CDMOs to notify, Licensee within [***] of the: 

(a) name or address of the Person responsible for the manufacturing establishment; 

(b) name of the executives responsible for the services; 

(c) name of the manufacturing establishment; 

(d) major part of buildings and facilities of the manufacturing establishment; and 

(e) category and (deemed) accreditation number, when a foreign manufacturer obtains additional accreditations for another category, or
discontinues operation of their accredited manufacturing establishment. 

  
 55. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

	7.	 CONFIDENTIALITY 

7.1 Confidential Information. Except to the extent expressly authorized by this Agreement or otherwise agreed in writing by the parties,
each party agrees that, during the Term and for [***] thereafter, such party (the “Receiving Party”) shall keep confidential and shall not publish or otherwise disclose and shall not use for any purpose, other
than as expressly provided for in this Agreement, any Information furnished to it by or on behalf of the other party (the “Disclosing Party”) pursuant to this Agreement or under the Prior CDA, whether in
written, oral, visual, electronic or other form (“Confidential Information”). The Receiving Party may use Confidential Information only to the extent required to accomplish the purposes of this Agreement. The
Receiving Party shall use at least the same standard of care as it uses to protect proprietary or confidential information of its own, but no less than reasonable care, to ensure that its, and its Affiliates’ and Sublicensees’, employees,
agents, consultants and other representatives (“Representatives”) do not disclose or make any unauthorized use of the Confidential Information. The Receiving Party will promptly notify the Disclosing Party upon
discovery of any unauthorized use or disclosure of the Confidential Information. 
 7.2 Exceptions. Confidential Information shall
not include any information that the Receiving Party can prove by competent evidence: (a) is now, or hereafter becomes, through no act or failure to act on the part of the Receiving Party in breach of this Agreement, generally known or
available to the public; (b) is known by the Receiving Party at the time of receiving such information, as evidenced by its records; (c) is hereafter furnished to the Receiving Party on a nonconfidential basis by a Third Party; or
(d) is independently discovered or developed by the Receiving Party, independently of the activities undertaken by the Receiving Party pursuant to this Agreement and without the use of Confidential Information of the Disclosing Party, as
evidenced by the Receiving Party’s contemporaneously-maintained written records. 
 7.3 Authorized Disclosure. Each party may
disclose Confidential Information of the other party as expressly permitted by this Agreement, or if and to the extent such disclosure is necessary in the following instances: 

(a) filing or prosecuting Patents as permitted by this Agreement; 

(b) enforcing such party’s rights under this Agreement and performing its obligations under this Agreement; 

(c) prosecuting or defending litigation as permitted by this Agreement; 

(d) complying with applicable court orders or applicable laws, rules and regulations, or the listing rules of any exchange on which
such party’s securities are traded; 
 (e) in Product Filings that the Receiving Party has the right to file, or holds, as
expressly set forth in this Agreement; 
 (f) disclosure to the Receiving Party’s Affiliates, licensees and
sublicensees/Sublicensees, potential licensees and sublicensees/Sublicensees, and to the Receiving Party’s and its Affiliates’ Representatives who, in each case, need to know such information in order for the Receiving Party to exercise
its rights or fulfill its obligations under this Agreement, 

  
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 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
provided, in each case, that any such Affiliate, actual or potential licensee or sublicensee/Sublicensee, or Representative agrees to be bound by terms of confidentiality and nonuse at least as
restrictive as those set forth in this Article 7; and 
 (g) disclosure to Third Parties in connection with due diligence or similar
investigations by such Third Parties, and disclosure to potential Third Party investors in confidential financing documents, provided, in each case, that any such Third Party agrees to be bound by reasonable obligations of confidentiality and non-use. 
 Notwithstanding the foregoing, in the event the Receiving Party is required to make a
disclosure of the Disclosing Party’s Confidential Information pursuant to Section 7.3(c) or 7.3(d), it will, except where impracticable, (i) give reasonable advance notice to the Disclosing Party of such disclosure, (ii) use
efforts to secure confidential treatment of such information at least as diligent as the Receiving Party would use to protect its own confidential information, but in no event less than reasonable efforts, and (iii) cooperate with any efforts
by the Disclosing Party, at the [***] to secure confidential treatment of such Confidential Information. Disclosure by the Receiving Party of Confidential Information in accordance with any of the foregoing provisions of this Section 7.3 shall
not, in and of itself, cause the information so disclosed to cease to be treated as Confidential Information under this Agreement, except to the extent that, by virtue of disclosure by the Receiving Party in full compliance with this
Section 7.3, such information becomes generally known or available. 
 7.4 Confidentiality of this Agreement. Except as
otherwise provided in this Article 7, each party agrees not to disclose to any Third Party the terms of this Agreement without the prior written consent of the other party hereto, except that each party may disclose the terms of this Agreement that
are otherwise made public as contemplated by Section 7.5 or to the extent such disclosure is permitted under Section 7.3. 

7.5 Public Announcements. 

(a) The parties will agree on the content and form of the expected press release from each party and will coordinate to the extent
reasonably practicable, the timing of the initial press releases in order to accomplish the same promptly upon execution and delivery of this Agreement. Except to the extent already disclosed in a press release or other public communication issued
in accordance with this Agreement, no public announcement concerning this Agreement, its subject matter or the transactions described herein shall be made, either directly or indirectly, by either party or its Affiliates, except as may be required,
in the good faith discretion of such party’s counsel, by Applicable Law (including disclosure requirements of the U.S. Securities and Exchange Commission (“SEC”) or the Tokyo Stock Exchange), judicial
order, or stock exchange or quotation system rule without first obtaining the approval of the other party and agreement upon the nature, text and timing of such announcement, which approval and agreement shall not be unreasonably withheld or
delayed. The party desiring to make any such voluntary public announcement shall provide the other party with a written copy of the proposed announcement in reasonably sufficient time prior to public release to allow the other party to comment upon
such announcement, prior to public release. In the case of press releases or other public communications required to be made by law, judicial order or stock exchange or quotation system rule, the party making such press release or public
announcement shall provide to the other 

  
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 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
party a copy of the proposed press release or public announcement in written or electronic form upon such advance notice as is practicable under the circumstances for the purpose of allowing the
notified party to review and comment upon such press release or public announcement. Under such circumstances, the releasing party shall not be obligated to delay making any such press release or public communication beyond the time when the same is
required to be made. Neither party shall be required to seek the permission of the other party to repeat any information regarding the terms of this Agreement or any amendment hereto that has already been publicly disclosed by such party or by the
other party in accordance with this Section 7.5(a); provided that such information remains accurate as of such time and provided the frequency and form of such disclosure are reasonable. 

(b) Each party may make public statements regarding this Agreement in response to questions by the press, analysts, investors or those
attending industry conferences or financial analyst calls, provided that any such public statement or press release: (i) is not inconsistent with prior public disclosures or public statements made in accordance with Section 7.5(a)
or as permitted by Section 7.3; and (ii) does not reveal (A) information regarding the terms of this Agreement that have not previously been disclosed in accordance with Section 7.5(a) or as permitted by Section 7.3 or (B) non-public information about the other party. 
 (c) The parties shall reasonably
coordinate in advance with each other in connection with the filing of this Agreement (including redaction of certain provisions of this Agreement) with the SEC or other governmental agency or any stock exchange on which securities issued by a party
or its Affiliate are traded. Each party shall use reasonable efforts to seek and obtain confidential treatment for the provisions of this Agreement that the parties mutually agree to redact from such filing; provided that each party shall ultimately
retain ultimate discretion to disclose such information to the SEC or any stock exchange or other governmental agency (as the case may be) as such party determines, based on advice of legal counsel, is required to be so disclosed. Except as
expressly set forth in this Article 7, neither party (or its Affiliates) shall be obligated to consult with or obtain approval from the other party with respect to any filings with the SEC or any stock exchange or other governmental agency where
such filings do not disclose Confidential Information of the other party. 
 7.6 Publications. Each party recognizes that the
publication of scientific and medical papers regarding results of and other information regarding Products, including oral presentations and abstracts, may be beneficial to both parties provided such publications are subject to reasonable controls
to protect Confidential Information. Accordingly, a party shall have the right to review and comment on any material proposed for disclosure or publication by the other party, such as by oral presentation, manuscript or abstract, relating to the
development, manufacture or commercialization Products and/or that includes Confidential Information of the other party. Before any such material is submitted for publication or disclosure (other than oral presentation materials and abstracts, which
are addressed below), the party proposing publication shall deliver a complete copy to the other party at least [***] days prior to the earlier of submitting the material to a publisher or initiating such other disclosure, and such other party shall
review any such material and give its comments to the party proposing publication within [***] of the delivery of such material to such other party. With respect to oral presentation materials and abstracts, the party proposing publication shall
deliver a complete copy to the other party at least [***] prior to the anticipated date of the presentation, and such other party shall make 

  
 58. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
reasonable efforts to expedite review of such materials and abstracts, and shall return such items as soon as practicable to the party proposing publication with appropriate comments, if any, but
in no event later than [***] from the date of delivery to the non-publishing party. The publishing party shall comply with the other party’s request to delete references to the other party’s
Confidential Information in any such material and agrees to delay any submission for publication or other public disclosure for a period of up to an additional [***] for the purpose of preparing and filing appropriate patent applications.
Notwithstanding the foregoing, if the party proposing to make a publication under this Section 7.6 is Dermavant, then it shall only be required to provide newly generated and non-published Information
related to the Product in the Field to Licensee for review and comment in accordance with this Section 7.6. For clarity, this Section 7.6 is intended to set forth the procedures for scientific and medical presentations and publications,
and other public disclosures (e.g., press releases, investor presentations and the like) are addressed in Section 7.3 and Section 7.5 hereof. 
  

	8.	 INTELLECTUAL PROPERTY 

8.1 Ownership and Assignments.

(a) Inventions. Except as expressly set forth in this Agreement, (i) each party will own all rights, title, and interests in and
to any and all Information or Inventions made solely by or on behalf of such party or its Affiliates in connection with the performance of such party’s activities under this Agreement and any Patents claiming any such Information or Inventions,
and (ii) the parties will jointly own any jointly generated Information and all Joint Inventions or Joint Patents. Notwithstanding the foregoing, Dermavant will solely own all Assigned Dermavant Collaboration Technology. All determinations of
inventorship under this Agreement will be made in accordance with U.S. patent law. 
 (b) Disclosure. Each of Dermavant and Licensee
will promptly disclose to the other party (through the JPC) all material Information or Inventions within the Joint Inventions, Assigned Dermavant Collaboration Know-How, the New Indication Know-How, or the LCM Research Know-How or the Combination Research Know-How prior to the filing of any patent application with respect
to such Inventions, including all invention disclosures or other similar documents submitted to such party by its or its Affiliates’ employees, agents, or independent contractors relating thereto. Each party will also promptly respond to
reasonable requests from the other party for additional information relating thereto.     
 (c) Assignment.
Licensee will and hereby does assign to Dermavant all of Licensee’s rights, title, and interests in and to any Assigned Dermavant Collaboration Technology, and Dermavant hereby accepts such assignment. Licensee will take (and cause its
Affiliates and Sublicensees, and their respective employees, agents, and contractors to take) such further actions reasonably requested by Dermavant to evidence such assignment and to assist Dermavant in obtaining Patents and other intellectual
property protection for any Inventions within the Assigned Dermavant Collaboration Technology as set forth in Section 8.3. If Licensee is unable to assign any Assigned Dermavant Collaboration Technology as set forth in this Section 8.1(c),
then Licensee hereby grants and agrees to grant to Dermavant a royalty-free, fully paid-up, worldwide, exclusive (even as to Licensee and its Affiliates), perpetual, irrevocable license (with the right to
grant sublicenses through multiple tiers) under such Assigned Dermavant Collaboration 

  
 59. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
Technology for any and all purposes, subject to the terms and conditions of this Agreement (including the grant of the License to Licensee). For clarity, Licensee will not file any Patents
claiming any Invention within the Assigned Dermavant Collaboration Technology unless the JPC unanimously provides consent to such filing. 

(d) Discussion on Ownership of Combination Research Patents and certain LCM Research Patents. Dermavant and Licensee shall meet in good
faith at the JPC and shall agree on the allocation of rights to intellectual property, including the ownership of Patents generated in connection with such research and development in advance of any commencement of any JSC agreed (i) Approved
Combination Research contemplated by Section 4.4(a) or (ii) LCM Research that Dermavant has elected to participate in and co-fund pursuant to Section 4.4(c)(i).  

8.2 Patent Prosecution and Maintenance. For purposes of this Section 8.2, the terms “prosecution” and
“maintenance” (including variations such as “prosecute” and “maintain”) shall mean, with respect to a Patent, the preparation, filing, prosecution (including conducting all correspondence and interactions with any
patent office and seeking, conducting and defending all any interferences, inter partes reviews, reissue proceedings, reexaminations, and oppositions and similar proceedings) and maintenance (including payment of any patent annuity fees) of such
Patent, as well as re-examinations, reissues, appeals, post grant reviews (PGR), inter partes reviews (IPR) and requests for patent term adjustments, patent term extensions, supplementary protection
certificates, or their equivalents with respect to such Patent, together with the initiation or defense of interferences, oppositions and other similar proceedings with respect to the particular Patent, and any appeals therefrom. For clarification,
“prosecution” and “maintenance” (including variations such as “prosecute” and “maintain”) shall exclude any enforcement action with respect to a Patent. 

(a) Dermavant Patents. 

(i) Dermavant Patents (including Assigned Dermavant Collaboration Patents). [***] shall have the first right, but not the
obligation, to prosecute and maintain Dermavant Patents in the Territory, using counsel of its own choice, at [***]. [***] shall keep [***] reasonably informed (through the JPC) of progress with regard to the prosecution and maintenance of any such
Patents in the Territory. In addition, [***] shall promptly provide [***] (through the JPC) with drafts of all proposed substantive filings and correspondence to any patent authority to the extent related to any such Patents in the Territory for
[***] review and comment prior to the submission of such proposed filings and correspondence. [***] shall consider in good faith [***] comments related to such Patents prior to submitting such filings and correspondence, provided that [***] provides
such comments to [***] within [***] (or a shorter period reasonably designated by [***] if [***] is not practicable given the filing deadline) of receiving the draft filings and correspondence from [***]. In the event that [***] seeks to abandon or
cease the prosecution or maintenance of any Dermavant Patents in the Territory (without initiation of the prosecution and maintenance of a substitution therefor), [***] shall provide reasonable prior written notice to [***] (thorough the JPC) of
such intention to abandon or cease such prosecution or maintenance (which notice shall be given no later than [***] prior to the next deadline for any action that must be taken with respect to any such Dermavant Patent with the patent office in the
Territory). In such case, at [***] 

  
 60. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
sole discretion, upon written notice to [***] from [***] may elect to continue the prosecution and maintenance of any such Dermavant Patents, in each case, in the Territory, [***] and by counsel
of its own choice. 
 (b) Joint Patents. 

(i) In the Territory. Unless otherwise agreed by the JPC, [***] shall have the first right, but not the obligation, to control and
manage the prosecution and maintenance of all Joint Patents in the Territory, [***] and by counsel of its own choice. [***] shall consult with [***] as to the prosecution and maintenance of any such Joint Patents in the Territory reasonably prior to
any deadline or action with any patent office and shall furnish to [***] copies of all relevant drafts and documents reasonably in advance of such consultation. [***] will consider in good faith the comments, requests, and suggestions of [***] with
respect to strategies for prosecuting the Joint Patents in the Territory and will endeavor to incorporate all reasonable comments timely provided by [***] to the extent directed to the prosecution of Joint Patent that cannot be practiced in the
Territory without infringing an existing Dermavant Patent. Without limiting the foregoing, if [***] determines not to incorporate any such comments, then, following an attempted resolution by the JSC, as contemplated in Section 3.4, [***] shall
have the right to refer the matter to the parties’ respective Senior Executives for attempted resolution by good faith negotiation for at least [***]. Subject to the foregoing obligations of [***] and [***] obligations set forth in the
remainder of this Section 8.2 and in Section 8.3, [***]. [***] shall keep [***] reasonably informed of progress with regard to the prosecution and maintenance of such Joint Patents in the Territory and shall provide to [***] copies of all
material patent office submissions within a reasonable amount of time following submission thereof by [***]. In the event that [***] desires to abandon or cease the prosecution or maintenance of any Joint Patents in the Territory (without initiation
of the prosecution and maintenance of a substitution therefor), [***] shall provide reasonable prior written notice to [***] of such intention to abandon (which notice shall, to the extent possible, be given no later than [***] prior to the next
deadline for any action that must be taken with respect to any such Joint Patent in the relevant patent office). In such case, at [***] sole discretion, upon written notice to [***] from [***] may elect to continue the prosecution and maintenance of
any such Joint Patent, [***] and by counsel of its own choice. 
 (ii) Dermavant ex-Territory
Rights. Unless otherwise agreed by the JPC, [***] shall have the first right, but not the obligation, to control and manage the prosecution and maintenance of all Joint Patents outside of the Territory, [***] and by counsel of its own choice.
[***] shall consult with Licensee as to the ex-Territory prosecution and maintenance of any such Joint Patents reasonably prior to any deadline or action with any patent office and shall furnish to [***] copies of all relevant drafts and documents
reasonably in advance of such consultation. [***] shall keep [***] reasonably informed of progress with regard to the prosecution and maintenance of such Joint Patents outside of the Territory and shall provide to [***] copies of all material patent
office submissions within a reasonable amount of time following submission thereof by [***] will consider in good faith the comments, requests, and suggestions of [***] with respect to strategies for prosecuting the Joint Patents outside of the
Territory and will endeavor to incorporate 

  
 61. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
all reasonable comments timely provided by [***] to the extent directed to the prosecution of Joint Patent that cannot be practiced outside of the Territory without infringing an existing
Licensee Patent. Without limiting the foregoing, if [***] determines not to incorporate any such comments, then, following an attempted resolution by the JSC, as contemplated in Section 3.4, [***] shall have the right to refer the matter to the
parties’ respective Senior Executives for attempted resolution by good faith negotiation for at least [***] Subject to the foregoing obligations of [***] and [***] obligations set forth in the remainder of this Section 8.2 and in
Section 8.3, [***]. In the event that [***] desires to abandon or cease the prosecution or maintenance of any Joint Patents outside of the Territory (without initiation of the prosecution and maintenance of a substitution therefor), [***] shall
provide reasonable prior written notice to [***] of such intention to abandon (which notice shall, to the extent possible, be given no later than [***] prior to the next deadline for any action that must be taken with respect to any such Joint
Patent in the relevant patent office). In such case, at [***] sole discretion, upon written notice to [***] from [***] may elect to continue the prosecution and maintenance of any such Joint Patent, [***] and by counsel of its own choice. 

(c) Licensee Patents. [***] shall have the first right, but not the obligation, to prosecute and maintain Licensee Patents in the
Territory and outside the Territory, using counsel of its own choice, [***]. [***] shall keep [***] reasonably informed (through the JPC) of progress with regard to the prosecution and maintenance of any such Patents. In addition, [***] shall
promptly provide [***] (through the JPC) with drafts of all proposed substantive filings and correspondence to any patent authority to the extent related to any such Patents for [***] review and comment prior to the submission of such proposed
filings and correspondence. [***] shall consider in good faith [***] comments related to such Patents prior to submitting such filings and correspondence, provided that [***] provides such comments to [***] within [***] (or a shorter period
reasonably designated by [***] if [***] is not practicable given the filing deadline) of receiving the draft filings and correspondence from [***]. In the event that [***] seeks to abandon or cease the prosecution or maintenance of any Licensee
Patent, [***] shall provide reasonable prior written notice to [***] (thorough the JPC) of such intention to abandon or cease such prosecution or maintenance (which notice shall be given no later than [***] prior to the next deadline for any action
that must be taken with respect to any such Licensee Patent with the patent office). In such case, at [***] sole discretion, upon written notice to [***] from [***] may elect to continue the prosecution and maintenance of any such Licensee Patent,
at [***] and by counsel of its own choice. 
 (d) Combination Patents. Notwithstanding the foregoing, the parties (through the JPC)
shall determine the prosecution and maintenance rights with respect to Patents covering Inventions arising from any Approved Combination Research, as set forth in Section 4.4(a) inside and outside of the Territory, prior to the commencement of
any such Approved Combination Research. 
 8.3 Cooperation of the Parties. Each party agrees to cooperate fully in the preparation,
filing, prosecution and maintenance of the Dermavant Patents and Joint Patents pursuant to Section 8.2 (through the JPC or as otherwise agreed by the parties). Such cooperation 

  
 62. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
includes, but is not limited to: (a) executing all papers and instruments, or requiring its employees or contractors, to execute such papers and instruments, so as to effectuate the
ownership of Inventions as set forth in Section 8.1, and Patents claiming or disclosing such Inventions, and as to enable the other party to apply for and to prosecute patent applications in any country as permitted by Section 8.2, and
(b) promptly informing the other party of any matters coming to such party’s attention that may affect the prosecution and maintenance of any such patent applications. 

8.4 Third Party Infringement.

(a) Notice; Procedures. Each party shall notify the other (through the JPC) within [***] of becoming aware of any alleged or threatened
infringement by a Third Party of (i) Dermavant Patents, (ii) Joint Patents, or (iii) Licensee Patents, in each case, which infringement of such Patents, in each case of (i)-(iii), adversely affects or is expected to adversely affect
any Product in Field in or outside the Territory, and, in each case of (i)-(iii), any related declaratory judgment or equivalent action alleging the invalidity, unenforceability or non-infringement of such Patents (collectively “Product
Infringement”). For clarity, any Product Infringement excludes those adversarial proceedings which are addressed in Section 8.2.  

(b) Enforcement Rights. 

(i) Dermavant Patents in the Territory. As between the parties [***] shall have the first right to bring and control any legal action
to enforce any Dermavant Patents (including Assigned Dermavant Collaboration Patents) against any Product Infringement in the Territory, [***] as it reasonably determines appropriate, and [***] shall consider in good faith the interests of [***] in
such enforcement of any such Patents. If [***] or its designee fails to file an action to abate any Product Infringement in the Territory within [***] after a written request from [***] to do so, or if [***] discontinues the prosecution of any such
action after filing without abating such infringement, then [***] shall have the right to enforce any Dermavant Patents against the relevant Product Infringement in the Territory, [***] as it reasonably determines appropriate, provided that [***]
shall not enter into any settlement admitting the invalidity of, or otherwise impairing, any Dermavant Patent without the prior written consent of [***]. 

(ii) Joint Patents. If either party becomes aware of any alleged or threatened infringement by a Third Party of any Joint Patent
inside or outside of the Territory (whether such infringement is a Product Infringement or not), then such party will so notify the other party, and the parties will promptly confer and determine (through the JPC) (1) whether to bring such an
enforcement action against such Third Party, (2) the strategy to be employed in connection with any such action, or (3) the manner in which to settle such action. Unless otherwise agreed, [***] shall have the first right but not the
obligation, to bring, [***] such enforcement action of a Joint Patent in the Territory and [***] shall have the first right but not the obligation, to bring, [***] such enforcement action of a Joint Patent outside of the Territory, with the other
party having a back-up right if the enforcing party or its designee fails to file an action to abate such infringement within [***] after a written request from Licensee to do so. The party not bringing an action under this Section 8.4(b)(ii)
will be entitled to separate representation in such proceeding 

  
 63. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
by counsel of its own choice and [***] and will cooperate fully with the party bringing such action: provided, however, that the enforcing party shall not enter into any settlement admitting the
invalidity of, or impairing, any interest in the other party’s Patent, or otherwise negatively affect the other party’s interest without the prior written consent of the other party. [***]. Notwithstanding the foregoing, each party will
discuss any such action it intends to bring with respect to any Joint Patent, and will not take any substantive position in any such enforcement proceeding or take any action in such enforcement proceeding that the other party believes in good faith
would have the potential to adversely affect or limit the scope, validity or enforceability of any claim in of any Dermavant Patent or any Licensee Patent that is necessarily infringed by the practice of the relevant Joint Patent or that would put
such Dermavant Patent or Licensee Patent at material risk in such proceeding (e.g. based on the merits of any potential counterclaim, invalidity defense or otherwise). If the parties (thorough the JPC) cannot agree on whether an action or
position with respect to a Joint Patent is acceptable, then, following an attempted resolution by the JSC, as contemplated in Section 3.4, either party shall have the right to refer the matter to the parties’ respective Senior Executives
for attempted resolution by good faith negotiation for at least thirty (30) days, and unless the Senior Executives agree, the enforcing party shall not take any the relevant action or position on which the parties could not agree. 

(iii) Licensee Patents. As between the parties, [***] shall have the first right to bring and control any legal action to enforce any
Licensee Patents against any Product Infringement inside and outside of the Territory, [***] as it reasonably determines appropriate, and [***] shall consider in good faith the interests of [***] in such enforcement of any such Patents. If [***] or
its designee fails to file an action to abate any Product Infringement inside or outside the Territory within [***] after a written request from [***] to do so, or if [***] discontinues the prosecution of any such action after filing without abating
such infringement, then [***] shall have the right to enforce any Licensee Patents against the relevant Product Infringement inside or outside of the Territory, as applicable, [***] as it reasonably determines appropriate, provided that [***] shall
not enter into any settlement admitting the invalidity of, or impairing, any Licensee Patent or otherwise negatively affect [***] interest without the prior written consent of [***]. 

(iv) Combination Patents. Notwithstanding the foregoing, the parties (through the JPC) shall determine the notice and enforcement
rights with respect to Patents covering Inventions arising from any Approved Combination Research, as set forth in Section 4.4(a) inside and outside of the Territory, prior to the commencement of any such Approved Combination Research. 

(c) Cooperation. In the event a party brings an infringement action in accordance with this Section 8.4 (such party, the
“Enforcing Party”), the other party shall cooperate fully, including, if required to bring such action, the furnishing of a power of attorney or being named as a party. The Enforcing Party shall not enter into
any settlement or compromise of any action under this Section 8.4: (i) in a manner that would diminish the rights or interests of the other party without the written consent of such other party, which shall not be unreasonably withheld; or
(ii) that would impose any cost or liability on the other party, or admit the invalidity or unenforceability of any Patent Controlled by the other party, without such other party’s prior written consent, which may be withheld in such other
party’s sole discretion. 

  
 64. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (d) Recovery. Except as otherwise agreed by the parties in connection with a
cost-sharing arrangement, any recovery as a result of any action or proceeding pursuant to Section 8.4(b), whether by way of settlement or otherwise, shall [***]: 

(i) [***] 
 (ii) [***] 

(iii) [***] 
 (iv) [***] 

(v) [***]: 
 (1) [***]

 (2) [***] 
 8.5
Infringement of Third-Party Rights. Each party shall promptly notify the other in writing of any allegation by a Third Party that manufacture, use or sale of Product infringes or may infringe the intellectual property rights of such Third Party.
Except as otherwise provided in Article 10, (a) [***] shall have the sole right to control any defense of any such claim involving alleged infringement of Third Party rights by [***] activities [***] and by counsel of its own choice, and [***] shall
have the right, [***] to be represented in any such action by counsel of its own choice if such intellectual property rights pertain to the Territory and (b) [***] shall have the sole right to control any defense of any such claim involving alleged
infringement of Third Party rights by [***] activities at its own expense and by counsel of its own choice, and [***] shall have the right, [***] to be represented in any such action by counsel of its own choice. Except as otherwise provided in
Article 10, neither party shall have the right to settle any patent infringement litigation under this Section 8.5 in a manner that diminishes the rights or interests of the other party without the written consent of such other party (which
shall not be unreasonably withheld). 

  
 65. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 8.6 Registration of Exclusive License (Senyo-Jisshiken). Dermavant shall reasonably
support Licensee in obtaining registration under the name of Licensee in the Territory of the exclusive license granted to Licensee under this Agreement (except with respect to the right to make, have made Products or use them for non-clinical development in the Territory) as a “Senyo Jisshiken” in accordance with Article 77 of the Japanese Patent Law immediately after the Effective Date with respect to Dermavant Patents already
issued or within [***] after issuance or registration of the relevant Dermavant Patents in the Territory. Licensee shall cooperate with Dermavant in deleting such Senyo Jisshiken registration immediately upon expiration of the Term or termination of
the Agreement. 
 8.7 Patent Extension. Upon request by Licensee, Dermavant shall reasonably cooperate (including by filing any
applications), [***] to extend the term of any patent within the Dermavant Patents in the Territory, provided that Dermavant will not be required to file any such extension if it has (and presents to Licensee) a reasonable business rationale for
such refusal, in which case Dermavant and Licensee shall discuss in good faith. 
 8.8 Patent Marking. Licensee shall mark (or cause
to be marked) Product marketed and sold hereunder with appropriate Dermavant Patent and Joint Patent numbers or indicia to the extent required by Applicable Laws. 

8.9 Trademarks. 
 (a)
Product Trademark. Dermavant shall select, after consultation with Licensee, a Product-specific trademark that it would like to be used in connection with the marketing and sale of Products in both the Territory and the Dermavant Territory (the
“Dermavant Product Trademark(s)”), and it may select certain distinctive colors, logos, images, symbols, and trademarks used by Dermavant or its other licensees or partners in connection with the
commercialization of Products on a global basis (such branding elements, collectively, the “Global Brand Elements”). Dermavant shall consider in good faith Licensee’s suggestions regarding the selection of the Dermavant
Product Trademarks and any Global Brand Elements. Dermavant shall own all rights in such Dermavant Product Trademarks and Global Brand Elements. 

(b) Use of Dermavant Product Trademark. Licensee shall have the right to brand Product in the Territory using the trademarks that
Licensee deems appropriate for Product in the Territory, provided that, Licensee shall duly consider the feasibility of using the Dermavant’s Product Trademark, and will consult with Dermavant in advance of any use of any trademark other than
the Dermavant Product Trademark or deviation from any Global Brand Elements and will duly take Dermavant’s comments into consideration. The parties acknowledge that it is likely to be mutually beneficial to adhere to a global branding strategy
for Products both inside and outside of the Territory, and the parties will endeavor (through the JSC) to agree on and adhere to such branding strategy, including with respect to the use of trademarks for Product in the Territory (the
“Product Marks”). 

  
 66. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (i) If Licensee intends to use any Product Marks in lieu of the Dermavant Product
Trademark, then, prior to such use Licensee shall provide Dermavant with a reasonable opportunity to review and provide comments on each proposed Product Mark, shall give due consideration to Dermavant’s comments before selecting any Product
Mark, and shall not use (1) any trademarks or house marks of Dermavant or any trademark confusingly similar thereto or (2) any trademarks, logos, or trade names in connection with the commercialization of the Product in the Territory that
are not consistent with the Global Brand Elements, in each case of (1) and (2), without Dermavant’s prior written consent. 

(ii) Trademark License. Dermavant hereby grants to Licensee a perpetual, exclusive, royalty-free license, with the right to sublicense
solely in conjunction with the grant of a permitted Sublicense under Section 2.3, to use the Dermavant Product Trademark and Global Branding Elements solely in connection with the marketing and sale of Product in the Field in the Territory in
accordance with this Agreement. Licensee shall not use (or license to an Affiliate or Third Party) the Dermavant Product Trademark or Global Brand Elements in connection with any product other than Product, nor shall Licensee use (or cause or permit
any Affiliate or Sublicensee to use) the Dermavant Product Trademark or Global Brand Elements outside of the Territory. Licensee shall be responsible for the failure by its Affiliates and Sublicensees to comply with this Section 8.9, including
all relevant restrictions, limitations and obligations. Licensee shall obtain Dermavant’s approval prior to the first use of the Dermavant Product Trademark in any Product labeling or packaging, such approval not to be unreasonably withheld,
conditioned or delayed if the Dermavant Product Trademark is used in a manner that is consistent with Dermavant’s reasonable usage guidelines for the Dermavant Product Trademark in the Dermavant Territory. Dermavant shall own and retain all
right, title and interest in and to the Dermavant Product Trademark and Global Branding Elements, and all goodwill associated with or attached to the Dermavant Product Trademark or Global Branding Elements arising out of the use thereof by Licensee,
its Affiliates and Sublicensees shall vest in and inure to the benefit of Dermavant. Licensee agrees not to contest, oppose or challenge Dermavant’s ownership of the Dermavant Product Trademarks or Global Branding Elements. Licensee agrees not
to do or suffer to be done, at any time, any act or thing that will in any way impair Dermavant’s ownership of or rights in and to the Dermavant Product Trademark or any registration thereof or that may depreciate the value of the Dermavant
Product Trademark. Licensee agrees that in using the Dermavant Product Trademark upon any Product packaging, labeling, advertising or promotional materials, it shall not represent in any way that it has any right or title to the ownership of the
Dermavant Product Trademark or the registration thereof. [***] shall, [***] assist [***] in any action reasonably necessary or desirable to protect the Dermavant Product Trademark or Global Branding Elements. [***] shall as soon as practicable
notify [***] of any apparent infringement by a Third Party of the Dermavant Product Trademark or Global Branding Elements. 
 (iii) Use
of Other Product Mark. If Licensee elects to use a Product Mark other than the Dermavant Product Trademark in connection with the marketing and sale of Product in the Territory, Licensee shall own all right, title and interest in and to such
Product Mark, and all goodwill associated with or attached to such Product Mark arising out of the use thereof by Licensee, its Affiliates and Sublicensees shall vest in and inure to the benefit of Licensee. 

  
 67. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (c) Trademark Prosecution. [***] shall control the prosecution of, and, unless [***]
elects not to not use the Dermavant Product Trademark, shall use Commercially Reasonable Efforts to maintain, the Dermavant Product Trademark in the Territory [***]. If [***] wishes to abandon the Dermavant Product Trademarks in the Territory, then,
prior to abandonment, [***] shall notify in writing [***] at least [***] in advance of any statutory bar or other deadline that would result in loss of such Dermavant Product Trademark. Following such notification, [***] may, at its option, notify
[***] in writing that it is electing to undertake the filing, prosecution, defense and maintenance of such to-be-abandoned Dermavant Product Trademark, unless the
maintenance of such trademark would be inconsistent with applicable laws or otherwise detrimental to the activities of [***] outside of the Territory. If [***] elects to undertake the filing, prosecution, defense and maintenance of the Dermavant
Product Trademark by providing written notice thereof to [***] will be responsible for all costs relating thereto. If [***] elects not to use the Dermavant Product Trademark, then [***] shall control the prosecution of, and use Commercially
Reasonable Efforts to maintain, the Product Mark at its expense. 
 (d) Trademark Enforcement. Each party shall promptly notify the
other party in writing upon becoming aware of any infringement of the Dermavant Product Trademark or Global Branding Elements in the Territory. [***] shall control the enforcement of the Dermavant Product Trademark in the Territory [***]. [***]
shall provide information about its intention with respect to any actual or threatened Dermavant Product Trademark within [***] after it first learns of such actual or alleged infringement. [***] shall have the right to enforce such Dermavant
Product Trademark only in the event that [***] does not initiate an enforcement action within [***] after it first learns of such infringement. The cost of any enforcement action for the Dermavant Product Trademark brought by [***] shall be borne by
[***]. If [***] uses a Product Mark instead of the Dermavant Product Trademark in the Territory, Licensee shall control the enforcement of the Product Mark in the Territory [***]. [***]. 

8.10 Third Party Rights. If at any time during the Term, either party identifies any Patent or Information Controlled by a Third Party
in the Territory that may be necessary or useful in connection with the development or commercialization of a Product (such right, a “Third Party Right”), then, as between the parties, [***] shall have the first right, but
not the obligation, to negotiate and obtain a license or other rights from such Third Party to such Third Party Right as necessary or desirable for Dermavant or its Affiliates or its or their licensees (including Licensee). If [***] negotiates and
obtains any such license to any such Third Party Right from a Third Party (any such agreement, a “Third Party Agreement”), then (a) [***] will use reasonable efforts to secure the right to sublicense such Third Party Right to
[***] in the Territory to the extent of the License and (b) to the extent that [***] so obtains such right, it shall promptly notify [***] in writing and disclose to [***] the financial terms under such Third Party Agreement (the
“Allocable Cost”). [***] shall have the right, within [***] following its receipt of notice from [***] to elect whether it wishes to include such Third Party Rights within the scope of the License. If [***] notifies the [***]
of its desire to so include such Third Party Right, then such Third Party Right shall be included in the license 

  
 68. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
granted by the [***] to the [***] under this Agreement, subject to the parties’ prior written agreement on an equitable sharing of the Allocable Cost as apportioned to the rights in the
Territory and outside of the Territory, due as consideration for a grant of rights under such Third Party Right under the scope of the License in the Territory, provided that if the parties cannot agree, then the Allocable Cost of such worldwide
rights will be borne [***]. If [***] notifies [***] that it does not wish to include such Third Party Right(s) within the scope of the License or fails to so notify the [***] within such [***] period, then such Third Party Rights shall not be deemed
“Controlled” by [***] for the purpose of this Agreement and shall not be included in the License granted by the Dermavant to Licensee under this Agreement. 

8.11 Common Interest. All information exchanged between the parties regarding the prosecution and maintenance, defense, and
enforcement, of any Patents under this Article 8 will be deemed Confidential Information of the disclosing party. In addition, the parties acknowledge and agree that, with regard to such prosecution and maintenance, defense, and enforcement of the
Patents under this Article 8, the interests of the parties as collaborators and licensor and licensee are to obtain the strongest patent protection possible, and as such, are aligned and are legal in nature. The parties agree and acknowledge that
they have not waived, and nothing in this Agreement constitutes a waiver of, any legal privilege concerning the Patents under this Article 8, including privilege under the common interest doctrine and similar or related doctrines. 

8.12 Non-Authorized Use. If Licensee (or its Affiliates) uses any Dermavant Technology,
Compound, Product, or Dermavant Confidential Information for purposes outside the scope of this Agreement, Dermavant shall solely own any Information and Inventions, patentable or not, arising out of such use. Licensee hereby assigns (and shall
cause its Affiliates or any Third Party involved to assign) to Dermavant all rights, titles and interests in and to Information and Inventions. The Information and Inventions arising out of such unauthorized use shall not be considered by any manner
licensed to Licensee and therefore, Licensee may not exploit the data, results, discoveries and inventions, patentable or not, without Dermavant’s written consent. Dermavant shall be entitled to seek any additional remedies available under
Applicable Laws or under this Agreement, including the right to terminate this Agreement. 
  

	9.	 REPRESENTATIONS AND WARRANTIES 

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

  
 69. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 9.2 Dermavant Representations and Warranties. Dermavant hereby represents and warrants
to Licensee, as of the Effective Date, that: 
 (a) Exhibit A attached hereto contains a true and complete list of the existing
Dermavant Patents in the Territory as of the Effective Date (the “Existing Patents”), but, for clarity, Exhibit A does not include any patent application that has been abandoned, finally rejected or expired and to the
extent that any of the Dermavant Patents listed on Exhibit A are pending patent applications as of the Effective Date, those applications are being diligently prosecuted at the relevant patent offices; 

(b) Dermavant has sufficient legal or beneficial title of, and rights under the Dermavant Technology to grant to Licensee as set forth
in this Agreement, and Dermavant has not granted to any Third Party or Affiliate any license or other right with respect to Product in the Field in the Territory, that has not been terminated or waived or that would otherwise not conflict with the
rights granted to Licensee under this Agreement; 
 (c) Dermavant owns all right, title and interests in and to all Existing Patents,
to Dermavant’s and any Dermavant Executive’s knowledge, each issued patent included in the Existing Patents is not invalid and is not unenforceable, and neither Dermavant nor any Dermavant Executive is aware of any threatened claims or
litigation seeking to invalidate or otherwise challenge the enforceability of the claims of the issued patents within the Existing Patents; 

(d) neither Dermavant nor any Dermavant Executive is aware of any Third Party claiming that the manufacture, use, sale, offer for sale
or import of Product in the Field in the Territory infringed or misappropriated the intellectual property rights of such Third Party or challenging the inventorship or ownership of any of its intellectual property rights therefor; 

(e) Dermavant has complied in all material respects with all Applicable Laws applicable to the prosecution and maintenance of the
Dermavant Patents and has prepared, maintained and retained records of the material activities conducted by it and its Affiliates in furtherance of the development of Compound and Product and the data resulting therefrom in sufficient detail and in
good scientific manner appropriate for patent and regulatory purposes and in accordance with Applicable Laws; 
 (f) Dermavant is not
a party to any legal action, suit or proceeding relating to Product; 
 (g) neither Dermavant nor any of its Affiliates is or has
been debarred or suspended under 21 U.S.C. §335(a) or §335(b) or any foreign equivalent thereof, or is the subject of a conviction described in such section or any foreign equivalent thereof; 

(h) there are no legal claims, judgments or settlements against or owed by Dermavant or any of its Affiliates, or pending or, to
Dermavant’s or any Dermavant Executive’s knowledge, threatened, legal claims or litigation, in each case, relating to antitrust, anti-competition, anti-bribery or corruption violations; 

  
 70. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (i) [***] 

(j) other than the security interests granted pursuant to each of the Funding Agreements (which security interest are the subject of
the Non-Disturbance Agreements, as applicable) the Dermavant Technology is free and clear of liens, charges or encumbrances other than licenses granted to or by Third Parties and that are not inconsistent with
the rights and licenses granted to Licensee hereunder; 
 (k) to Dermavant’s or any Dermavant Executive’s knowledge, there
are no, and there have been no safety issues relating to Product that would be reasonably likely to prevent or materially delay the Regulatory Approval for Product in the Territory in Atopic Dermatitis and Plaque Psoriasis; 

(l) all intellectual property rights owned or Controlled by any Related Affiliate of Dermavant that claim or otherwise cover the
composition of matter or formulation, or any method of use in the Field of the Product in the Territory, or its manufacture or that is otherwise necessary or useful for the development, manufacture or commercialization of Product in the Field and in
the Territory are, and will continue to be during the term of this Agreement, owned or otherwise Controlled by Dermavant; 
 (m) the
following agreements provided by Dermavant to Licensee (i) are true, accurate and complete in all material respects (other than redactions of certain terms that are not material to the rights and obligations of the parties hereunder) and
(b) are in full force and effect and have not been amended (except pursuant to an amendment provided by Dermavant to Licensee), waived, superseded or terminated: (A) the Funding Agreements, (B) [***]. 

(n) any consents or other authorizations required for Dermavant to enter into this transaction or to grant the rights contemplated to
be granted herein, including any rights held by [***], have been obtained or have otherwise been waived, and this Agreement will not conflict with or be a breach of any agreement with a Third Party to which Dermavant or any Affiliate is a
party.  
 9.3 Parent Company Undertaking. By its signature below, Dermavant Sciences Ltd, affirms that it is the
parent company of Dermavant and Related Affiliates and affirms the accuracy of the representations and warranties provided by Dermavant pursuant to Section 9.2(l) and Section 9.2(n) and agrees to take such action as may be reasonably
needed for the continued accuracy of Section 9.2(l) throughout the Term of this Agreement. 
 9.4 Licensee Representations and
Warranties. Licensee represents and warrants to Dermavant, as of the Effective Date, that: 
 (a) [***] there are no legal
claims, judgments or settlements against or owed by Licensee or any of its Affiliates, or pending or, to Licensee’s knowledge, threatened, legal claims or litigation, in each case, relating to antitrust, anti-competition, anti-bribery or
corruption violations concerning their pharmaceutical business in the Territory; 

  
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 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (b) neither Licensee nor any of its Affiliates nor Torii has been debarred or
suspended under 21 U.S.C. §335(a) or §335(b) or any foreign equivalent thereof, or is the subject of a conviction described in such section or any foreign equivalent thereof. 

(c) Licensee has sufficient financial resources or capabilities to (i) perform all of its obligations pursuant to this Agreement,
and (ii) meet all of its obligations that come due in the ordinary course of business; and 
 (d) Licensee has, or can readily
obtain, sufficient technical, clinical, and regulatory expertise to perform all of its obligations pursuant to this Agreement, including its obligations relating to development, manufacturing, commercialization, and obtaining Regulatory Approvals
for Products in the Field and in the Territory. 
 9.5 Mutual Covenants. In addition to any covenants made by it elsewhere in this
Agreement, each party hereby covenants to the other party that: 
 (a) in the event that such party becomes aware that it or any of
its Affiliates or Sublicensees has been debarred, suspended or is the subject of a conviction described in 21 U.S.C. §335(a) or §335(b) or any foreign equivalent thereof, or if any action, suit, claim, investigation, or legal or
administrative proceeding is pending or, to its actual knowledge, is threatened, relating to such debarment, suspension or conviction, such party will immediately notify the other party in writing, and the parties shall immediately meet and discuss
in good faith any actions that could be taken that would be reasonably likely to substantially mitigate or avoid material harm to the Product, provided that, if following such discussions, the non-offending
party reasonably believes that material harm to the Product cannot be reasonably avoided through the implementation of any mitigating action, then such non-offending party may terminate this Agreement
immediately upon written notice to the other party; 
 (b) in the event that such party becomes aware that any Person that is
performing activities hereunder on its behalf has been debarred, suspended or is the subject of a conviction described in 21 U.S.C. §335(a) or §335(b) or any foreign equivalent thereof, or if any action, suit, claim, investigation, or
legal or administrative proceeding is pending or, to its actual knowledge, is threatened, relating to such debarment, suspension or conviction, such party will immediately notify the other party in writing and such party will cease, or cause its
Affiliate to cease (as applicable), employing, contracting with, or retaining any such Person to perform any services relating to Product; 

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

  
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Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
emolument, bribe, kickback, illicit gift or hospitality or other illegal or unethical benefit to a public official or entity or any other Person in connection with the exercise of such
party’s rights or performance of such party’s obligations under this Agreement; 
 (d) each party shall, and shall ensure
that its directors or officers, and, to the knowledge of such party, any directors or officers of its Affiliates or (sub)licensees is not currently the subject or the target of any sanctions administered or enforced by the U.S. Government,
(including, without limitation, the Office of Foreign Assets Control of the U.S. Department of the Treasury (OFAC) or the U.S. Department of State and including, without limitation, the designation as a “specially designated national” or
“blocked person”), the United Nations Security Council (UNSC), the European Union, Her Majesty’s Treasury (HMT) or other relevant sanctions authority (collectively, “Sanctions”); and such party will not
knowingly, directly or indirectly, use the proceeds arisen out of this Agreement hereunder (i) to fund or facilitate any activities of or business with any person that, at the time of such funding or facilitation, is the subject or the target
of Sanctions, (ii) to fund or facilitate any activities of or business in a country, region or territory that is the subject or the target of Sanctions, including, without limitation, Crimea, Cuba, Iran, North Korea, Sudan and Syria (each, a
“Sanctioned Country”) or (iii) in any other manner that will result in a violation by any person (including any person participating in the transaction, whether as placing agent, advisor, investor or otherwise) of
Sanctions. For the past [***] each party and its Affiliates have not knowingly engaged in or are not now knowingly engaged in any dealings or transactions with any person that at the time of execution of this Agreement is not or was not the subject
or the target of Sanctions. 
 (e) neither such party nor any of its Affiliates (or any of their respective employees and
contractors), in connection with the exercise of such party’s rights or performance of such party’s obligations under this Agreement, shall cause the other party to be in violation of Anti-Corruption Laws or Export Control Laws; and 

(f) such party shall immediately notify the other party, to the extent permitted by the Applicable Laws, if such party has any
information or suspicion that there may be a violation of Anti-Corruption Laws or Export Control Laws in connection with the exercise of such party’s rights or performance of such party’s obligations under this Agreement. In the event that
a party has violated any of its obligations, representations, warranties or covenants in Section 9.5(d) or (e), the other party may terminate this Agreement immediately upon written notice to such party. 

9.6 Performance by Affiliates, Sublicensees and Third-Party Contractors. The parties recognize that each party may perform some or all
of its obligations or exercise some or all of its rights under this Agreement through one or more Affiliates, Third Party contractors, or, in the case of Licensee and subject to Section 2.3, Sublicensees, and Distributors; provided, in
each case, that (a) none of the other party’s rights hereunder are diminished or otherwise adversely affected as a result of such delegation or contracting, and (b) each such Affiliate, Third Party contractor, and, in the case of
Licensee, Sublicensee, and Distributor, undertakes in writing obligations of confidentiality and non-use regarding Confidential Information which are at least as stringent as those undertaken by the parties
pursuant to Article 7; and provided, further, that, to the extent applicable, each such Third Party contractor of Licensee agrees in writing to assign to Licensee any and all Inventions generated or made by such contractor in the course of
performing the contracted activities, so that Licensee can comply with its obligations under this Agreement 

  
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Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
and grant the licenses to Dermavant that Licensee is purporting to grant hereunder. Each party shall at all times be fully responsible for the performance and payment of its Affiliates, Third
Party contractors and, in the case of Licensee, Sublicensees and Distributors. 
 9.7 Disclaimer. EXCEPT AS EXPRESSLY SET FORTH IN
THIS AGREEMENT, THE TECHNOLOGY AND INTELLECTUAL PROPERTY RIGHTS PROVIDED BY DERMAVANT AND LICENSEE HEREUNDER ARE PROVIDED “AS IS.” EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, NEITHER PARTY MAKES ANY REPRESENTATION OR EXTENDS ANY
WARRANTIES OF ANY KIND, AND EACH PARTY EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTIES OF DESIGN, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THE
INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES, OR ARISING FROM A COURSE OF DEALING, USAGE OR TRADE PRACTICES. 
  

	10.	 INDEMNIFICATION; INSURANCE; LIABILITY
LIMITATIONS 

 10.1 By Licensee. Licensee hereby agrees to save, defend and hold Dermavant and
its Affiliates and their respective directors, officers, employees and agents (each, a “Dermavant Indemnitee”) harmless from and against any and all claims, suits, actions, demands, liabilities, expenses and/or
loss, including reasonable legal expense and attorneys’ fees (collectively, “Losses”) to which any Dermavant Indemnitee may become subject as a result of any claim, demand, action or other proceeding by any
Third Party to the extent such Losses arise directly or indirectly out of: [***] (c) the breach by Licensee of any provision of this Agreement (including any warranty, representation, covenant or agreement made by Licensee herein); or (d) the
negligence or willful misconduct of any Licensee Indemnitee (defined below); except, in each case, to the extent such Losses result from the negligence or willful misconduct of any Dermavant Indemnitee or the breach by Dermavant of any provision of
this Agreement (including any warranty, representation, covenant or agreement made by Dermavant herein). 
 10.2 By Dermavant.
Dermavant hereby agrees to save, defend and hold Licensee and its Affiliates and their respective directors, officers, employees and agents (each, an “Licensee Indemnitee”) harmless from and against any and all
Losses to which any Licensee Indemnitee may become subject as a result of any claim, demand, action or other proceeding by any Third Party to the extent such Losses arise directly or indirectly out of: [***] (b) the breach by Dermavant of any
provision of this Agreement (including any warranty, representation, covenant or agreement made by Dermavant herein); (c) the negligence or willful misconduct of any Dermavant Indemnitee; or [***] except, in each case, to the extent such Losses
result from the negligence or willful misconduct of any Licensee Indemnitee or the breach by Licensee of any provision of this Agreement (including any warranty, representation, covenant or agreement made by Licensee herein). 

  
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 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 10.3 Procedure. In the event a party (the “Indemnified
Party”) seeks indemnification under Section 10.1 or 10.2, the Indemnified Party shall: (a) inform the other party (the “Indemnifying Party”) of a claim as soon as reasonably
practicable after it receives notice of the claim (it being understood and agreed, however, that the failure by an Indemnified Party to give notice of a claim as provided in this Section 10.3 shall not relieve the Indemnifying Party of its
indemnification obligation under this Agreement except and only to the extent that such Indemnifying Party is actually damaged as a result of such failure to give notice); (b) permit the Indemnifying Party to assume direction and control of the
defense of the claim (including the right to settle the claim solely for monetary consideration) using counsel reasonably satisfactory to the Indemnified Party; and (c) cooperate as requested (at the expense of the Indemnifying Party) in the
defense of the claim. If the Indemnifying Party does not assume control of such defense within [***] after receiving notice of the claim from the Indemnified Party, the Indemnified Party shall control such defense and, without limiting the
Indemnifying Party’s indemnification obligations, the Indemnifying Party shall reimburse the Indemnified Party for all costs, including reasonable attorney fees, incurred by the Indemnified Party in defending itself within [***] after receipt
of any invoice therefor from the Indemnified Party. The party not controlling such defense may participate therein at its own expense. The party controlling such defense shall keep the other party advised of the status of such action, suit,
proceeding or claim and the defense thereof and shall consider recommendations made by the other party with respect thereto. The Indemnified Party shall not agree to any settlement of such action, suit, proceeding or claim without the prior written
consent of the Indemnifying Party, which shall not be unreasonably withheld, delayed or conditioned. The Indemnifying Party shall not agree to any settlement of such action, suit, proceeding or claim or consent to any judgment in respect thereof
that does not include a complete and unconditional release of the Indemnified Party from all liability with respect thereto, that imposes any liability or obligation on the Indemnified Party or that acknowledges fault by the Indemnified Party
without the prior written consent of the Indemnified Party. 
 10.4 Insurance. Each party, [***] shall maintain product liability and
other appropriate insurance (or self-insure) in an amount [***]. Each party shall provide a certificate of insurance (or evidence of self-insurance) evidencing such coverage to the other party upon request. 

10.5 Limitation of Liability. NEITHER PARTY SHALL BE LIABLE TO THE OTHER FOR ANY SPECIAL, CONSEQUENTIAL, INCIDENTAL, PUNITIVE, OR
INDIRECT DAMAGES ARISING FROM OR RELATING TO ANY BREACH OF THIS AGREEMENT, REGARDLESS OF ANY NOTICE OF THE POSSIBILITY OF SUCH DAMAGES. [***]. 

  
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Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

	11.	 TERM AND TERMINATION 

11.1 Term. The term of this Agreement (the “Term”) shall commence on the Effective Date and,
unless earlier terminated pursuant to Section 9.5(a), Section 9.5(f) or this Article 11, continue until the expiration of all payment obligations of the parties under this Agreement. 

11.2 Termination For Cause. 

(a) Material Breach. A party shall have the right to terminate this Agreement before the end of the Term upon written notice to the
other party if such other party is in material breach of this Agreement and has not cured such breach within [***] with respect to a payment breach in relation to the Upfront Payment or [***] with respect to any other payment breach) after notice
from the terminating party requesting cure of the breach. Any such termination shall become effective at the end of such [***] with respect to any payment breach, as applicable) period unless the breaching party has cured such breach prior to the
end of such period. 
 (b) Patent Challenge. Dermavant shall have the right to terminate this Agreement immediately upon written
notice to Licensee if Licensee or any of its Affiliates or Sublicensees, directly or indirectly through any Third Party, commences any interference or opposition proceeding with respect to, challenges the validity or enforceability of, or opposes
any extension of or the grant of a supplementary protection certificate with respect to, any Dermavant Patent. 
 11.3 Termination At
Will. Licensee shall have the right to terminate this Agreement in its entirety for any reason or no reason at any time upon (i) in case of termination prior to the Regulatory Approval of the first Product in the Field in the Territory,
upon ninety (90) days’ prior written notice to Dermavant, and (ii) in case of termination after the Regulatory Approval of the first Product in the Field in the Territory, one hundred eighty (180) days’ prior written notice
to Dermavant. Within [***] after delivery of written notice pursuant to this Section 11.3, the JSC shall convene to discuss transition planning, subject to Section 11.4(b). 

11.4 Effect of Expiration or Termination. 

(a) Expiration. Upon expiration (but not earlier termination) of this Agreement pursuant to Section 11.1: (i) the License shall
automatically become non-exclusive, fully-paid, royalty-free, irrevocable and perpetual; (ii) the Grant-Back License shall remain in full force and effect on a
non-exclusive, fully-paid, royalty-free, irrevocable and perpetual basis; and (iii) all other rights and obligations of the parties under this Agreement shall terminate, except as provided elsewhere in
this Section 11.4 or in Section 11.5. 
 (b) Termination by Dermavant Pursuant to Section 9.5(a), 9.5(f),
11.2(a) or 11.2(b) or by Licensee Pursuant to Section 11.3. Solely in the event of termination of this Agreement by Dermavant pursuant to Section 9.5(a), Section 9.5(f), Section 11.2(a) or Section 11.2(b),
or termination of this Agreement by Licensee pursuant to Section 11.3, the following provisions shall apply: 
 (i) The License
shall automatically terminate and revert to Dermavant; 

  
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Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (ii) The Grant-Back License shall automatically become worldwide; 

(iii) As promptly as practicable (and in any event within [***] after such termination, Licensee shall: (A) to the extent not
previously provided to Dermavant, deliver to Dermavant true, correct and complete copies of all Product Filings in the Field in the Territory (in each case, whether held in the name of Licensee, its Affiliate or a Sublicensee), and disclose to
Dermavant all previously-undisclosed Information for which Licensee has or had disclosure obligations under this Agreement; (B) transfer or assign, or cause to be transferred or assigned, to Dermavant or its designee (or to the extent not so
assignable, take all reasonable actions to make available to Dermavant or its designee the benefits of all Product Filings in the Field in the Territory (in each case, whether held in the name of Licensee, its Affiliate or a Sublicensee)); and
(C) take such other actions and execute such other instruments, assignments and documents as may be necessary to effect, evidence, register and record the transfer, assignment or other conveyance of rights under this Section 11.4(b)(iii)
to Dermavant; 
 (iv) Licensee shall, as elected by Dermavant, either promptly wind-down any ongoing development or
commercialization activities with respect to Product in the Field in the Territory in an orderly fashion or promptly transition such activities to Dermavant or its designee; in each case, with due regard for patient safety and in compliance with all
Applicable Laws and international guidelines. In addition, Licensee shall, at Dermavant’s request, assign to Dermavant or its designee those clinical trial agreements and/or commercial agreements with respect to Product identified by Dermavant
in its request (or to the extent not so assignable, take all reasonable actions to make available to Dermavant or its designee the benefits of such agreements); 

(v) Licensee shall not practice, license, assign or otherwise exploit any Inventions generated or developed by or on behalf of
Licensee or its Affiliates or Sublicensees with respect to any Compound or Product without the prior written consent of Dermavant. 

(vi) Licensee shall, and hereby does, effective on such termination, assign to Dermavant all of Licensee’s and its
Affiliates’ right, title and interest in and to the Product Marks (if other than the Dermavant Product Trademark), including, in each case, all goodwill therein, and Licensee shall promptly take such actions and execute such instruments,
assignments and documents as may be necessary to effect, evidence, register and record such assignment; and 
 (vii) [***] shall
have the right, but not the obligation, to purchase from [***] any or all usable inventory of Product in [***] or its Affiliates’ possession as of the date of termination at a supply price equal to [***] cost of such inventory. Any packaging,
transport, insurance and other costs relating to delivery shall be [***]. 
 (c) Termination by Licensee Pursuant to
Section 9.5(a), 9.5(f) or 11.2(a). In the event of termination of this Agreement by Licensee pursuant to Section 9.5(a), Section 9.5(f) or Section 11.2(a), (i) the provisions of Section 11.4(b)(i),
Section 11.4(b)(iv), and Section 11.4(b)(vii), shall apply and (ii) the Grant Back license will no longer be a royalty free and fully paid up license, and, promptly following any such termination, the parties shall meet and attempt to
agree on appropriate economic terms payable to Licensee in consideration therefor. If the parties cannot agree on the economic terms for the Grant-Back License, within a [***] 

  
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Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
negotiation period following the effective date of the relevant termination, then either party shall have the right to submit such failure to agree for final resolution pursuant to the
“baseball” arbitration provisions of Section 12.5. 
 11.5 Accrued Obligations; Survival. Neither expiration nor
termination of this Agreement shall relieve either party of any obligation or liability accruing prior to such expiration or termination, nor shall expiration or termination of this Agreement preclude either party from pursuing all rights and
remedies it may have under this Agreement, at law or in equity, with respect to breach of this Agreement. The parties’ rights and obligations under the following Sections and Articles, of this Agreement shall survive expiration or termination
of this Agreement for any reason: Sections 2.8, 5.3 and 5.4 (each solely to the extent pertaining to sales prior to expiration or termination or recovery pursuant to Section 8.4(d)(i) (solely to the extent pertaining to recovery which covers
Product Infringement in the Territory prior to expiration or termination)), 5.6 through 5.9, 8.1(a)-(c), 8.2(b), 8.2(c) (solely to the extent of Licensee Patents covered by the Grant-Back License), 8.3, 8.4(a)-(c) (solely with respect to, Joint
Patents and, to the extent covered by the Grant-Back License, Licensee Patents), 8.4(d) (i) (solely to the extent pertaining to recovery which covers Product Infringement in the Territory prior to expiration or termination), 8.4(d)(ii)-(v), 8.11,
8.12, 11.4 and this 11.5 and Articles 1 (solely to the extent such definitions are utilized in other surviving provisions), 7 (other than Section 7.6), 10, 12 and 13. 
  

	12.	 DISPUTE RESOLUTION 

12.1 Disputes. Except as provided in Section 3.2, Section 3.4 and Section 12.4, upon the written request of either party
to the other party, any claim, dispute, or controversy or claim arising out of or related to this Agreement (a “Dispute”) shall be referred to the Senior Executive of Dermavant and the Senior Executive of Licensee, for
resolution. In the event the two individuals referred to in the preceding sentence are unable to resolve such matter within [***] after the initial written request, then, upon the written demand of either party, the matter shall be finally resolved
by binding arbitration, as provided in Section 12.2. Any disputes about the propriety of commencing arbitration or the scope or applicability of the agreement to arbitrate shall be finally settled by the arbitral tribunal. 

12.2 Arbitration. 
 (a)
Any Dispute shall be resolved by final and binding arbitration under the rules of the [***] as then in effect (the “Rules”), except as they be modified herein or by mutual agreement of the parties. 

(b) The arbitration shall be conducted by one or more arbitrator(s) appointed in accordance with the Rules; provided that:
(i) such arbitrator(s) shall not be current or former employees or directors, or current stockholders, of either party, any of their respective Affiliates or any Sublicensee; and (ii) each arbitrator(s) shall have experience and
familiarity with commercial licensing practices in the pharmaceutical and biotechnology industries. The seat, or legal place, of arbitration shall be [***] and all proceedings and communications shall be in the English language. 

  
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Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 (c) The arbitral tribunal shall permit discovery (including both the production of
documents and deposition testimony) as reasonably necessary for an understanding of any legitimate issue raised in the arbitration, while also taking into account the desirability of making discovery efficient and cost-effective, and, in addition to
the authority conferred upon the arbitral tribunal by such Rules, the arbitral tribunal shall have the authority to order production of documents in accordance with the [***] as current on the commencement of the arbitration. 

(d) The arbitral tribunal shall have the power to grant any remedy or relief that it deems appropriate, whether provisional or final,
including but not limited to conservatory relief and injunctive relief, provided that the arbitral tribunal’s authority to award special, incidental, consequential or punitive damages shall be subject to the limitation set forth in
Section 10.5, except to the extent the substantive laws of the [***] do not permit such limitation. The award shall be rendered within [***] of the appointment of the arbitral tribunal unless the parties jointly request an extension, or the
arbitral tribunal determines, in a reasoned decision that the interest of justice or the complexity of the case requires that such limit be extended. 

(e) The arbitration award shall be final and binding on the parties, and the parties undertake to carry out the award without delay.
Judgment upon the award may be entered in any court of competent jurisdiction. 
 (f) During the pendency of the arbitration, each
party shall bear its own attorneys’ fees, costs, and disbursements arising out of the arbitration, and shall pay an equal share of the fees and costs of the arbitration and the arbitral tribunal shall fix costs in the arbitral award in
accordance with the Rules. 
 12.3 Confidentiality of Arbitration. The existence and content of the arbitral proceedings and any
rulings or awards shall be kept confidential by the parties and the arbitral tribunal except (a) to the extent that disclosure may be required of a party to fulfill a legal duty, protect or pursue a legal right, or enforce or challenge an award
in bona fide legal proceedings before a state court or other judicial authority, (b) with the consent of all parties, (c) where needed for the preparation or presentation of a claim or defense in this arbitration, (d) where such
information is already in the public domain other than as a result of a breach of this clause, or (e) by order of the arbitral tribunal upon application of a party. 

12.4 Injunctive Relief; Court Actions. Either party may apply to the arbitrators for interim injunctive relief until the arbitration
award is rendered or the controversy is otherwise resolved. Either party also may, without waiving any remedy under this Agreement, seek from any court having jurisdiction any interim injunctive or other interim relief in the context of a bona
fide emergency or prospective irreparable harm, and such an action may be filed and maintained notwithstanding any ongoing discussions between the parties or any ongoing arbitration proceeding. In addition, either party may bring an action in
any court of competent jurisdiction to resolve disputes pertaining to the validity, construction, scope, enforceability, infringement or other violations of Patents or other intellectual property rights, and no such claim shall be subject to
arbitration pursuant to Section 12.2. 

  
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Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 12.5 Baseball Arbitration. 

(a) Matters Subject to Baseball Arbitration. In the event that the parties fail to agree on any matter described in Section 2.7(a),
2.12, 4.3(c); 4.4(c)(ii)(3), 5.4, or 11.4(c), and, in any such case, a party submits such failure to baseball arbitration for final resolution, then relevant failure to agree shall be resolved in accordance with the following provisions: 

(i) Within [***] following a party’s receipt of any baseball arbitration notice from the other party, the parties shall meet and
attempt to agree on an independent Third Party expert with at least [***] of experience in the licensing of biopharmaceutical compounds or products. If the parties cannot agree on such expert within such time period, then each party may nominate one
independent expert within [***] after such [***] period and the two experts so selected shall nominate the final independent expert within ten (10) Business Days of their nomination.  

(ii) Within [***] of her or their appointment, the expert(s) shall set a date for the arbitration, which date shall be scheduled as
soon as possible and is intended to be scheduled no more than [***] after the date the arbitration is demanded.  
 (iii) The
arbitration shall be “baseball-style” arbitration. Accordingly, at least [***] prior to the arbitration, each party shall provide the expert with a complete, written proposal of (A) if the matter is referred pursuant to
Section 2.7(a), the additional financial terms that may apply to the clinical development and commercialization (i.e. milestones, royalties, transfer prices or other payments required on the Net Sales) of a Combination Product; (B) if the
matter is referred pursuant to Section 2.12, the commercially reasonable arms-length terms pursuant to which Dermavant would be required to grant an exclusive license, under the applicable Patents and Information Controlled by Dermavant, to
develop and commercialize any product(s) containing an [***], (C) if the matter is referred pursuant to Section 4.3(c), the terms upon which Licensee would receive the right to exploit the License for the applicable new indication in the Field,
including, at a minimum the economic terms therefor, the development efforts that would be required to be undertaken under the Territory Development Plan and the allocation and ownership of intellectual property that would be generated in connection
with such development efforts, (D) if the matter is referred pursuant to Section 4.4(c)(ii)(3), the commercially reasonable consideration payable to Licensee in consideration for the exclusive license granted to Dermavant or (E) if
the matter is referred pursuant to Section 5.4 a proposal for the royalty payments that would be payable to Dermavant in lieu of the Transfer Price Payment, and (F) if the matter is referred pursuant to Section 11.4(c) or the
commercially reasonable terms for the continued practice of the Grant-Back License following termination of this Agreement, along with, in each case of (A)-(F), any documentary or other evidence it wishes to provide in support for such proposal.
 
 (iv) After receiving both parties’ proposals pursuant to clause (iii), the expert(s) will have the right to meet with
the parties as necessary to inform the expert’s determination and to perform independent research and analysis. The expert(s) will be instructed to select one of the party’s proposals without modification within [***] following the receipt
of both proposals. The expert(s) will deliver her/their decision regarding the disputed matter in writing, which decision will be made in accordance with the standard for resolution of such matter set forth in this Agreement and will be binding and
conclusive upon both parties.  

  
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 (v) The (A) fees of the expert(s), and (B) costs and expenses of the
baseball arbitration will, in each case ((A) and (B)), be borne by the party whose proposal is not selected by the expert(s). 
 (b)
Incorporation. The provisions of Section 12.3 and 12.4 shall apply to any baseball arbitration proceedings commenced under this Section 12.5 mutatis mutandis. 

 

	13.	 MISCELLANEOUS 

13.1 Rights Upon Bankruptcy. The parties acknowledge and agree that all rights and licenses granted under or pursuant to this Agreement
to Licensee or Dermavant are, and shall otherwise be deemed to be, for purposes of Section 365(n) of the United States Bankruptcy Code and other similar foreign laws, licenses of rights to “intellectual property” as defined under
Section 101 of the United States Bankruptcy Code or other similar foreign laws. The parties agree that the parties shall retain and may fully exercise all of their rights and elections under the United States Bankruptcy Code (or any comparable
provision of the laws applicable to bankruptcies or insolvencies), and other similar foreign laws. The parties further agree that, in the event of the commencement of a bankruptcy proceeding by or against a party under the United States Bankruptcy
Code, the non-debtor party shall be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property and all embodiments of such intellectual property and the same,
which, if not already in the non-debtor party’s possession, shall be promptly delivered to it (a) upon any such commencement of a bankruptcy proceeding upon the
non-debtor party’s written request therefor, unless the debtor party continues to perform all of its obligations under this Agreement or (b) if not delivered under clause (a) above, following
the rejection of this Agreement by or on behalf of the debtor party upon written request therefor by the non-debtor party. 

13.2 Governing Law. This Agreement and any disputes, claims, or actions related thereto shall be governed by and construed in
accordance with the laws of the State of New York, USA, without regard to any conflicts of law provisions thereof that might otherwise refer construction or interpretation of this Agreement to the substantive law of another jurisdiction. The parties
agree to exclude the application to this Agreement of the United Nations Convention on Contracts for the International Sale of Goods. 

13.3 Entire Agreement; Amendment. This Agreement, including the Exhibits hereto, is both a final expression of the parties’
agreement and a complete and exclusive statement with respect to all of its terms. This Agreement supersedes all prior and contemporaneous agreements and communications, whether oral, written or otherwise, concerning any and all matters contained
herein. This Agreement may only be modified or supplemented in a writing expressly stated for such purpose and signed by an authorized representative of each party. 

13.4 Relationship Between the Parties. The parties’ relationship, as established by this Agreement, is solely that of independent
contractors. This Agreement does not create any 

  
 81. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 
partnership, joint venture or similar business relationship between the parties. Neither party is a legal representative of the other party, and neither party can assume or create any obligation,
representation, warranty or guarantee, express or implied, on behalf of the other party for any purpose whatsoever. 
 13.5 Non-Waiver. The failure of a party to insist upon strict performance of any provision of this Agreement or to exercise any right arising out of this Agreement shall neither impair that provision or right nor
constitute a waiver of that provision or right, in whole or in part, in that instance or in any other instance. Any waiver by a party of a particular provision or right shall be in writing, shall be as to a particular matter and, if applicable, for
a particular period of time and shall be signed by an authorized representative of such party. 
 13.6 Assignment. Except as
expressly provided hereunder, neither this Agreement nor any rights or obligations hereunder may be assigned or otherwise transferred by either party without the prior written consent of the other party (which consent shall not be unreasonably
withheld); provided, however, that (a) either party may assign this Agreement and its rights and obligations hereunder without the other party’s consent in connection with the transfer or sale of all or substantially all of the
assets of such party pertaining to this Agreement to a Third Party, whether by merger, sale of stock, sale of assets or otherwise, provided that in the event of a transaction (whether this Agreement is actually assigned or is assumed
by the acquiring party by operation of law (e.g., in the context of a reverse triangular merger)) [***] and (b) either party may assign this Agreement and its rights and obligations hereunder to an Affiliate of such party, provided that
the assigning party shall remain liable and responsible to the non-assigning party hereto for the performance and observance of all such duties and obligations by such Affiliate. The rights and obligations of
the parties under this Agreement shall be binding upon and inure to the benefit of the successors and permitted assigns of the parties, and the name of a party appearing herein shall be deemed to include the name of such party’s successors and
permitted assigns to the extent necessary to carry out the intent of this section. Any assignment not in accordance with this Agreement shall be void. 

13.7 No Third-Party Beneficiaries. This Agreement is neither expressly nor impliedly made for the benefit of any party other than those
executing it. 
 13.8 Severability. If, for any reason, any part of this Agreement is adjudicated invalid, unenforceable or illegal
by a court of competent jurisdiction, such adjudication shall not affect or impair, in whole or in part, the validity, enforceability or legality of any remaining portions of this Agreement. All remaining portions shall remain in full force and
effect as if the original Agreement had been executed without the invalidated, unenforceable or illegal part. 
 13.9 Notices. Any
notice to be given under this Agreement must be in writing and delivered either in person, by any method of mail (postage prepaid) requiring return receipt, or by overnight courier, to the party to be notified at its address(es) given below, or at
any address such party has previously designated by prior written notice to the other. Notice shall be deemed sufficiently given for all purposes upon the earliest of: (a) the date of actual receipt or; (b) if delivered by overnight
courier, the next Business Day the overnight courier regularly makes deliveries. 

  
 82. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

			
	If to Licensee:	  	[***]
		
	With a copy to (which shall not constitute notice):	  	[***]
		
	If to Dermavant:	  	[***]
		
	With a copy to (which shall not constitute notice):	  	[***]

 13.10 Force Majeure. Each party shall be excused from liability for the failure or delay in performance
of any obligation under this Agreement if such failure is caused by reason of any event beyond such party’s reasonable control including but not limited to acts of nature, fire, flood, explosion, earthquake, zombie apocalypse, or other natural
forces, war, acts of terrorism, or any other event similar to those enumerated above. Such excuse from liability shall be effective only to the extent and duration of the event(s) causing the failure or delay in performance and provided that the
party has not caused such event(s) to occur. Notice of a party’s failure or delay in performance due to force majeure must be given to the other party within [***] after its occurrence. All delivery dates under this Agreement that have been
affected by force majeure shall be tolled for the duration of such force majeure. 
 13.11 Interpretation. The headings of clauses
contained in this Agreement preceding the text of the sections, subsections and paragraphs hereof are inserted solely for convenience and ease of reference only and shall not constitute any part of this Agreement, or have any effect on its
interpretation or construction. All references in this Agreement to the singular shall include the plural where applicable. Unless otherwise specified, references in this Agreement to any Article shall include all Sections, subsections and
paragraphs in such Article, references to any Section shall include all subsections and paragraphs in such Section, and references in this Agreement to any subsection shall include all paragraphs in such subsection. All references to days in this
Agreement shall mean calendar days, unless otherwise specified. Ambiguities and uncertainties in this Agreement, if any, shall not be interpreted against either party, irrespective of which party may be deemed to have caused the ambiguity or
uncertainty to exist. This Agreement has been prepared in the English language and the English language shall control its interpretation. In addition, all notices required or permitted to be given hereunder, and all written, electronic, oral or
other communications between the parties regarding this Agreement shall be in the English language. 

  
 83. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 13.12 Counterparts. This Agreement may be executed in counterparts, including by
transmission of facsimile or PDF copies of signature pages to the parties or their representative legal counsel, each of which shall be deemed an original document, and all of which, together with this writing, shall be deemed one instrument. 

[Remainder of this page intentionally left blank.] 

  
 84. 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 IN WITNESS WHEREOF, the
parties hereto have duly executed this Collaboration and License Agreement as of the Effective Date. 
  

									
	JAPAN TOBACCO INC.	 		 	DERMAVANT SCIENCES GMBH
					
	By:	 	
                     
       
	 		 	By:	 	
[***]                

	Name:	 	  
	 		 	Name:	 	
	Title:	 	  
	 		 	Title:	 	[***]
				
		 		 		 	DERMAVANT SCIENCES LTD, solely with respect to the undertaking provided in Section 9.3
					
		 		 		 	By:	 	 [***]

		 		 		 	Name:	 	[***]
		 		 		 	Title:	 	[***]

  
 [Signature Page to
Collaboration and License Agreement] 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 IN WITNESS WHEREOF, the parties hereto
have duly executed this Collaboration and License Agreement as of the Effective Date. 
  

									
	JAPAN TOBACCO INC.	 		 	DERMAVANT SCIENCES GMBH
					
	By:	 	
[***]                    
                    
	 		 	By:	 	
                     
                   

	Name:	 	[***]	 		 	Name:	 	[***]
	Title:	 	[***]	 		 	Title:	 	[***]
				
		 		 		 	DERMAVANT SCIENCES LTD, solely with respect to the undertaking provided in Section 9.3
					
		 		 		 	By:	 	  

		 		 		 	Name:	 	[***]
		 		 		 	Title:	 	[***]

  
 [Signature Page to
Collaboration and License Agreement] 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 Exhibit A 

Dermavant Patents 
 [***]

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 Exhibit B 

Supply Terms 
 [***]

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 Exhibit C 

Initial Territory Development Plan Overview 

[***] 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 Exhibit D-1 

Hercules Non-Disturbance Agreement 

[***] 

 Certain confidential information contained in this document, marked by [***], has been omitted because
Roivant Sciences Ltd. (the “Company”) has determined that the information (i) is not material and (ii) would likely cause competitive harm to the Company if publicly disclosed. 

 

 Exhibit D-2 

NovaQuest Non-Disturbance Agreement 

[***]EX-10.8

 Exhibit 10.8 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS
DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY
CAUSE COMPETITIVE HARM TO DERMAVANT SCIENCES LTD. IF PUBLICLY DISCLOSED. 

Execution Version 

CONFIDENTIAL 
 Dated
August 20, 2018 
 GlaxoSmithKline Trading Services Limited 

– and – 

Dermavant Sciences GmbH 
  

 
 CLINICAL MANUFACTURING AND SUPPLY
AGREEMENT 
 in respect of Tapinarof and Clinical Placebo 

 
  

 CONFIDENTIAL 
  

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
		
	 1. DEFINITIONS AND INTERPRETATION
	  	 	1	 
		
	 2. GSK’S OBLIGATIONS
	  	 	16	 
		
	 3. DEVELOPMENT SERVICES
	  	 	18	 
		
	 4. PURCHASER’S OBLIGATIONS
	  	 	20	 
		
	 5. PURCHASE, MAINTENANCE, AND DESTRUCTION OF EXISTING CLINICAL API
	  	 	21	 
		
	 6. MATERIALS
	  	 	22	 
		
	 7. PURCHASER MATERIALS
	  	 	22	 
		
	 8. INTELLECTUAL PROPERTY
	  	 	23	 
		
	 9. PRODUCT FORECASTS AND ORDERS
	  	 	24	 
		
	 10. DELIVERY OF PRODUCT
	  	 	26	 
		
	 11. PRICE
	  	 	27	 
		
	 12. INVOICE AND PAYMENT
	  	 	29	 
		
	 13. ELECTRONIC SYSTEMS
	  	 	30	 
		
	 14. QUALITY ASSURANCE
	  	 	31	 
		
	 15. DEFECTIVE PRODUCTS
	  	 	31	 
		
	 16. PRODUCT LICENCE
	  	 	32	 
		
	 17. PRODUCT SPECIFICATIONS
	  	 	32	 
		
	 18. WRITE OFFS
	  	 	33	 
		
	 19. REGULATORY COMPLIANCE
	  	 	34	 
		
	 20. PRODUCT EVENTS
	  	 	35	 
		
	 21. PHARMACOVIGILANCE
	  	 	36	 
		
	 22. CONFIDENTIALITY
	  	 	36	 
		
	 23. FORCE MAJEURE
	  	 	38	 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 

 CONFIDENTIAL 
  

					
	 24. CAPACITY CONSTRAINTS
	  	 	39	 
		
	 25. AUDIT AND INSPECTION RIGHTS
	  	 	40	 
		
	 26. NO COMMERCIALISATION OF PRODUCT; ADDITIONAL AGREEMENTS
	  	 	41	 
		
	 27. WARRANTIES
	  	 	41	 
		
	 28. INDEMNITIES
	  	 	42	 
		
	 29. LIABILITY
	  	 	44	 
		
	 30. TECHNOLOGY TRANSFER
	  	 	45	 
		
	 31. TERM AND TERMINATION
	  	 	46	 
		
	 32. CONSEQUENCES OF EXPIRY OR TERMINATION
	  	 	47	 
		
	 33. SURVIVAL OF RIGHTS, DUTIES AND OBLIGATIONS
	  	 	49	 
		
	 34. NOTICES
	  	 	50	 
		
	 35. RELATIONSHIP OF THE PARTIES
	  	 	51	 
		
	 36. ASSIGNMENT AND NOVATION
	  	 	51	 
		
	 37. SUB-CONTRACTORS
	  	 	52	 
		
	 38. ENTIRE AGREEMENT
	  	 	53	 
		
	 39. SEVERABILITY
	  	 	53	 
		
	 40. VARIATION, WAIVER AND AMENDMENT
	  	 	53	 
		
	 41. COUNTERPARTS
	  	 	53	 
		
	 42. NO SET OFF
	  	 	54	 
		
	 43. LANGUAGE
	  	 	54	 
		
	 44. NO COMPENSATION
	  	 	54	 
		
	 45. DISPUTE RESOLUTION
	  	 	55	 
		
	 46. GOVERNING LAW AND JURISDICTION
	  	 	55	 
		
	 SCHEDULE 1 PRODUCTS AND PRICES
	  	 	58	 
		
	 SCHEDULE 2 SCOPE OF WORK FOR DEVELOPMENT SERVICES
	  	 	67	 
		
	 SCHEDULE 3 TOLL MANUFACTURE PROVISIONS
	  	 	70	 
		
	 SCHEDULE 4 FEES
	  	 	73	 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 

 CONFIDENTIAL 
  

 THIS AGREEMENT is made the 20th day of August, 2018 (“Effective Date”)
BETWEEN: 
  

	(1)	 GlaxoSmithKline Trading Services Limited a company registered in Ireland (company registration
number 406446), whose registered office is at Currabinny, Carrigaline, Cork, Ireland (“GSK”); 

 AND 

 

	(2)	 Dermavant Sciences GmbH, a company incorporated under the laws of Switzerland (company registration
number CHE-449.750.216) whose registered office is at Viaduktstrasse 8, 4051 Basel, Switzerland (the “Purchaser”). 

WHEREAS: 
  

	(A)	 The GSK Group is engaged in, among other things, the manufacture of medicinal products and consumer healthcare
products. 

  

	(B)	 The Purchaser is engaged in, among other things, the development, distribution and sale of medicinal products
and/or consumer healthcare products. 

  

	(C)	 The Purchaser wishes to engage the services of a third party contract manufacturer for the Products and GSK is
willing to (i) supply Existing Clinical Products, Existing Clinical Placebo and Existing Clinical API to the Purchaser, (ii) manufacture (or have manufactured), as applicable, the New Clinical Products, New Clinical Placebo, and New
Clinical API for the Purchaser, and (iii) provide certain development services in connection with the supply of Clinical Products and Clinical Placebo as requested by Purchaser, in each case in accordance with the terms and conditions of this
Agreement. 

 NOW IT IS AGREED as follows: 
  

	1.	 DEFINITIONS AND INTERPRETATION 

 

	1.1	 Each capitalized term used but not otherwise defined in this Agreement has the meaning given to such term in
the Purchase Agreement. The following additional terms have the respective meanings set forth in the preamble to this Agreement or below. This Agreement shall control to the extent any conflict exists between any defined term used in this Agreement
and any defined term used in the Purchase Agreement. 

 “Actual Cost” means, in respect of a Toll
Material, the cost to the Purchaser (and/or its relevant Affiliates) of acquiring and supplying that Toll Material to GSK (or the Nominated Supplier), including the costs of Delivery of such Toll Material but excluding (for the avoidance of doubt)
any profit made by the Purchaser or any of its Affiliates through the application of transfer pricing.  
 “Adverse
Event” means any untoward medical occurrence associated with the use of a Product in humans, whether or not considered drug-related (including any unfavourable and unintended sign, symptom, or disease temporally associated with the use of a
Product (whether or not considered related to the Product)), any failure to produce expected benefits and any adverse event associated with circumstances of overdose, medication error, abuse or misuse. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 1 

 CONFIDENTIAL 
  

 “Affected Party” has the meaning given in the definition of “Force
Majeure Event” in this Clause 1.1. 
 “Affected Products” has the meaning given in Clause 24.2, and
“Affected Product” shall be construed accordingly. 
 “Affected Site” has the meaning given in Clause 24.1.

 “Affiliate” means any corporation or business entity Controlled by, Controlling, or under common Control with a Party to
this Agreement. 
 “Allocation” has the meaning given in Clause 24.2. 

“API” means, in respect of a Clinical Product, a substance used in that Clinical Product intended to furnish pharmacological
activity or to otherwise have direct effect in the diagnosis, cure, mitigation, treatment or prevention of disease, or to have direct effect in restoring, correcting or modifying physiological functions in human beings. 

“API Base Cost” has the meaning given in Schedule 1, Part B.  

“Applicable Law” means, with respect to a country or registrational jurisdiction in the Territory, any Federal, state, local
or country constitution, law, statute, ordinance, Order, rule or regulation, including any rules, regulations, guidelines or other requirements of the Regulatory Authorities applicable to the Development, Manufacturing or Commercialisation a
Product, that may be in effect from time to time in a country or registrational jurisdiction. 
 “Business Day” means any
day other than (i) a Saturday, Sunday or other day on which banks in New York, New York, Basel, Switzerland and London, England are permitted or required to close by law or regulation or (ii) the nine (9) consecutive calendar days
beginning on December 24th and continuing through January 1st of each Calendar Year. 
 “Calendar Quarter” means a three
(3) month period commencing on the day following any Calendar Quarter Day and ending on the next-following Calendar Quarter Day. 

“Calendar Quarter Day” means any of March 31st, June 30th, September 30th and December 31st. 

“Calendar Year” means a period of twelve (12) months commencing on January 1st. 

“CAPAs” has the meaning given in Clause 14.2. 

[***] 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 2 

 CONFIDENTIAL 
  

 “Certificate of Analysis” means a document identified as such, signed or
released by a Qualified Person (or Person designated by the Qualified Person to sign or release such document) in accordance with cGMP that: 
  

	 	(A)	 sets forth the analytical test results for each specified lot of Products Delivered to the Purchaser under this
Agreement; and 

  

	 	(B)	 confirms that such Products have been Manufactured in accordance with the applicable Specifications.

 “China Territory” means, collectively, the People’s Republic of China, including Hong Kong Special
Administrative Region, Macau Special Administrative Region and Taiwan (as specified in the Welichem Agreement (as such term is defined in the Purchase Agreement)).  

“Claim” has the meaning given in Clause 28.4. 

“Clinical Products” means Existing Clinical Products and New Clinical Products, individually or collectively as the context
may require. 
 “Clinical Placebo” means Existing Clinical Placebo and New Clinical Placebo, individually or collectively as
the context may require. 
 “Clinical Trial” means any clinical investigation of a Product (whether pre- or post-Regulatory Approval), including any study or clinical investigation required by a Regulatory Authority.  

“CoGs” means, in respect of a Product, [***], but excluding: 

 

	 	(A)	 costs of [***]; and 

  

	 	(B)	 [***]. 

“Commercialise” means any and all activities, whether initiated or conducted prior to or following Regulatory Approval,
constituting using, marketing, promoting, distributing, offering for sale, selling and importing a Product (other than for the purposes of a Clinical Trial), and “Commercialising” and “Commercialisation” shall be
construed accordingly. 
 “Commercially Reasonable Efforts” means, with respect to the efforts to be expended by a Party to
achieve any objective, the reasonable, [***]. 
 “Confidential Information” means: 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 3 

 CONFIDENTIAL 
  

	 	(A)	 all information (including but not limited to trade secrets, protocols, specifications, techniques, source and
object code, business and marketing plans and projections, capital investment plans, arrangements and agreements with third parties and the content thereof, customer information, Intellectual Property, formulae, suppliers and customer lists,
financial data, designs and models) passing from the Disclosing Party to the Receiving Party (or its Personnel), whether deliberately or inadvertently, before, on or after the date of this Agreement, relating to the business affairs or finances of
the Disclosing Party that is designated, marked, or described as confidential, or might be reasonably regarded by the Disclosing Party as confidential to it; and 

 

	 	(B)	 the existence, provisions and subject matter of this Agreement (in respect of which each Party shall be deemed
to be a Disclosing Party). 

 “Consent” means any consent, authorisation, permit, certificate, licence or
approval of, exemption by, or filing or registration with, any Regulatory Authority (including any Product Licence). 

“Contract” means any contract, agreement, lease, undertaking, indenture, commitment, loan, note, license, arrangement,
understanding or other legally binding obligation, whether written or oral. 
 “Contract Year” means a period of [***]
commencing on the Effective Date or any anniversary thereof. 
 “Control” (and variations thereof) means: 

 

	 	(A)	 with respect to any Know-How, Patents, Regulatory Documentation or
other information, the possession by a Party, including its Affiliates, of the ability (without taking into account any rights granted by one Party to the other Party under the terms of this Agreement) to disclose, licence, or sublicense such Know-How, Patents, Regulatory Documentation or other information without violating the terms of any Contract or other arrangement with, or necessitating the consent of, any Third Party; and 

 

	 	(B)	 as to a Person, the power to direct or cause the direction of the management and policies of such Person,
whether, through the ownership of voting securities, by contract or otherwise. 

 “Current Good Manufacturing
Practice” or “cGMP” means current practices for the Manufacture of Products required: 
  

	 	(A)	 if the Manufacturing Site is within the European Union or the Product is to be supplied to a country within the
European Union, by the provisions of Chapter II of EC Commission Directive 2003/94/EC together with the Guide to Good Manufacturing Practice published by the EC Commission in 1992 (ISBN 92- 826-3180-X) (as the same may be amended from time to time); or 

  

	 	(B)	 if the Product is to be supplied to a region covered by the International Conference on Harmonisation of
Technical Requirements for Registration of 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 4 

 CONFIDENTIAL 
  

	 	
Pharmaceuticals for Human Use (“ICH”), by the relevant ICH Quality Guidelines relating to good manufacturing practice (as the same may be amended from time to time); or

  

	 	(C)	 if the Manufacturing Site is in any other part of the world and the Product is not to be supplied to a country
within the European Union, by such standards as may be agreed in writing between the Parties to reflect the requirements of a Regulator in the country where the Product is Manufactured or supplied; or 

 

	 	(D)	 by such other requirements as may be agreed between the Parties and set forth in the Quality Agreement,

 each as reflected in the Quality Management System and the GSK Group’s policies and guidelines from time to time.

 “Defaulting Party” has the meaning given in Clause 31.3. 

“Defect” means, in respect of a Product, a failure to comply with the applicable Specification and/or to have been
Manufactured in accordance with cGMP. 
 “Defective” and “Defective Product” shall be construed
accordingly. 
 “Delivery” means, in respect of any quantity of Product, delivery of that Product in accordance with the
Delivery Terms; provided that such Product has first been released by GSK or its Affiliate pursuant to (and to the extent required by) the Quality Agreement. “Deliver”, “Delivery” and
“Delivered” shall be construed accordingly. 
 “Delivery Terms” means: 

 

	 	(A)	 for (i) Purchased Clinical API and (ii) Maintained Excess Clinical API subsequently purchased by the
Purchaser pursuant to Clause 2.2, FCA (current location of Purchased Clinical API or Maintained Excess Clinical API, as applicable) (Incoterms 2010), except for Purchased Clinical API or Maintained Excess Clinical API that the Parties agree will be
left in GSK’s possession on consignment pursuant to Clause 10 (Delivery of Product); provided that GSK will be responsible for the transportation of Purchased Clinical API (or Maintained Excess Clinical API subsequently purchased
by the Purchaser pursuant to Clause 2.2) to Barnard Castle as required (and transportation costs and any Taxes associated therewith (to the extent not separately reimbursed by the Purchaser) will be part of the LAV for the Manufacture of New
Clinical Products); 

  

	 	(B)	 for Existing Clinical Product and Existing Clinical Placebo, FCA (current location of Existing Clinical Product
or Existing Clinical Placebo) (Incoterms 2010); 

  

	 	(C)	 for New Clinical API, FCA (Cork, Ireland) (Incoterms 2010), except for New Clinical API that the Parties agree
will be left in GSK’s possession on consignment pursuant to Clause 10 (Delivery of Product); provided that GSK will be responsible for the transportation of New Clinical API to Barnard Castle as required (and transportation costs
and any Taxes associated therewith (to the extent not separately reimbursed by the Purchaser) will be part of the LAV for the Manufacture of New Clinical Products); and 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 5 

 CONFIDENTIAL 
  

	 	(D)	 for New Clinical Product and New Clinical Placebo, FCA (Barnard Castle) (Incoterms 2010).

 “Development” means all pre-clinical, clinical, CMC (chemistry,
manufacturing and controls) and regulatory activities with respect to a Product in a given country or jurisdiction in the Territory prior to Regulatory Approval of such Product in such country is obtained for the indication under study.
“Development” includes the preparation, filing, and maintenance of Regulatory Documentation relating to obtaining Regulatory Approval for the first time for a Product. When used as a verb, “Develop” means to engage
in Development. 
 “Development Services” has the meaning given in Clause 3.1. 

“Disclosing Party” has the meaning given in Clause 22.1. 

“Dispute” has the meaning given in Clause 45.2. 

“Effective Date” has the meaning set forth in the preamble. 

“Excess Clinical API” has the meaning given in Clause 5.1(C).  

“Existing Clinical API” has the meaning set forth in Schedule 1. 

“Existing Clinical Products” means Existing 1% Clinical Product and Existing 0.5% Clinical Products, individually or
collectively as the context may require. 
 “Existing 1% Clinical Product” has the meaning set forth in Schedule 1. 

“Existing 0.5% Clinical Product” has the meaning set forth in Schedule 1. 

“Existing Clinical Placebo” has the meaning set forth in Schedule 1. 

“Expected Loss” means, in respect of each New Clinical Product, the expected loss of the Toll Materials specified in Schedule
3 (Toll Manufacture Provisions) (taking account of samples of Toll Materials and/or New Clinical Product that GSK is required by Applicable Law to retain). 

“FDA” means the United States Food and Drug Administration, or a successor agency in the United States with responsibilities
comparable to those of the United States Food and Drug Administration. 
 “Firm Order” has the meaning given in Clause 9.4.

 “Firm Zone” has the meaning given in Clause 9.2. 

“Force Majeure Event” means, in relation to a Party (the “Affected Party”), any circumstances beyond the
reasonable control of the Affected Party or its Affiliate which directly prevent or have a material adverse effect on the Affected Party’s performance of its obligations under this Agreement and includes any of the following: 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 6 

 CONFIDENTIAL 
  

	 	(A)	 war, threat of or preparation for war, armed conflict; 

 

	 	(B)	 terrorist attack, civil war, civil commotion or riots; 

 

	 	(C)	 epidemic or pandemic; 

 

	 	(D)	 any law or government order, rule, regulation or direction, or any action taken by a Governmental Entity,
including but not limited to imposing an embargo, export or import restriction, quota or other restriction or prohibition, or failing to grant a necessary licence or consent; and 

 

	 	(E)	 to the extent beyond the reasonable control of the Affected Party, any labour dispute, including strikes,
industrial action or lockouts. 

 “Forecast Schedule” has the meaning given in Clause 9.1. 

“Governmental Entity” means any court, administrative body, local authority or other governmental or quasi-governmental entity
with competent jurisdiction, any supra-national, national, federal, state, municipal, provincial or local governmental, regulatory or administrative authority, agency, commission, court, tribunal, arbitral body, self-regulated entity, private body
exercising any regulatory, taxing, importing or other governmental or quasi-governmental authority or other governmental entity, including any relevant Regulatory Authority. 

“GSK Group” means GSK together with its Affiliates. 

“GSK Indemnitee” has the meaning given in Clause 28.2. 

“GSK Arising IP” has the meaning given in Clause 8.2. 

“GSK Background IP” means any Intellectual Property, including the Licensed Know-How
that is 
  

	 	(A)	 owned (or licensed to) the GSK Group at the Effective Date; or 

 

	 	(B)	 developed or acquired by, or licensed to (other than by the Purchaser), the GSK Group on or after the Effective
Date. 

 “GSK Intellectual Property” means GSK Background IP and GSK Arising IP. 

“GSK System” has the meaning given in Clause 13.1. 

“GSK System IP” means any and all Intellectual Property subsisting in the GSK System that is GSK Intellectual Property. 

“Indemnified Party” has the meaning given in Clause 28.4. 

“Indemnifying Party” has the meaning given in Clause 28.4. 

“Independent Expert” means a laboratory or other expert mutually agreed upon by the Parties (or, if no such agreement can be
reached within a reasonable time, a laboratory or other expert appointed by the President of the International Chamber of Commerce of London or his nominee upon the application of either Party) with expertise relevant to the matter to be determined.

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 7 

 CONFIDENTIAL 
  

 “Initial Term” has the meaning given in Clause 31.1.  

“Invoice Currency” means pounds sterling (GBP). 

“Insolvency Event” means, in relation to a Person: 
  

	 	(A)	 it is, or is deemed for the purpose of any Applicable Law, to be insolvent or unable to pay its debts as they
fall due; 

  

	 	(B)	 it admits an inability to pay debts as they fall due; 

 

	 	(C)	 it suspends making payments on any of its debts or announces an intention to do so; 

 

	 	(D)	 by reason of actual or anticipated financial difficulties, it begins negotiations with any creditor for the
rescheduling of any of its indebtedness outside the ordinary course of business; 

  

	 	(E)	 it is in breach of any covenant or other term of a loan or financial facility and a counterparty accelerates,
or calls for repayment of, any outstanding indebtedness as a result of such breach; 

  

	 	(F)	 the fair value of its assets is less than its liabilities (taking into account contingent and prospective
liabilities and disregarding inter-company loans between Affiliates); or 

  

	 	(G)	 a moratorium is declared in respect of any indebtedness. 

“Insolvency Proceeding” means, in relation to a Person: 

 

	 	(A)	 any step is taken with a view to a moratorium or a composition or similar arrangement with its creditors;

  

	 	(B)	 a meeting of its shareholders or directors is convened for the purpose of considering any resolution for, to
bring an application for, or to file documents with a court or any registrar for, its winding-up, judicial management or dissolution or any such resolution is passed; 

 

	 	(C)	 any Person brings an application for, or files documents with a court or any registrar for, its winding-up, judicial management or dissolution or such order is made; or 

  

	 	(D)	 a liquidator, judicial manager, administrator or similar officer is appointed in respect of any of its assets.

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 8 

 CONFIDENTIAL 
  

 “Intellectual Property” means Patents, utility models, trademarks, service
marks, rights in designs, copyrights, rights in databases and rights in Know-How (whether or not any of these is registered or capable of registration and including applications for registration of any such
thing) and all other similar rights or forms of protection of a similar nature or having equivalent or similar effect to any of these which may subsist anywhere in the world. 

“Know-How” means any non-public, proprietary
technical information (including information relating to an invention), discovery, process, method, composition, formula, procedure, protocol, technique, result of experimentation or testing, data, trade secret, drawing or other know-how, whether or not patentable or copyrightable. 
 “Latent Defect” means, in respect
of a Product, a Defect existing at the time of Delivery of that Product which [***]. 
 “LAV” or “Local Added
Value” means, in respect of a Product, the [***], but excluding: 
  

	 	(A)	 [***] 

  

	 	(B)	 [***] 

  

	 	(C)	 [***] 

“Lead Time” means the period of time that, from the date of a Firm Order, GSK will require to: 

 

	 	(A)	 supply the relevant Existing Clinical API, Existing Clinical Product or Existing Clinical Placebo (including
sufficient time to allow for ordering and delivery of Materials); or 

  

	 	(B)	 Manufacture and supply to the Third Party responsible for undertaking analytical testing in respect of the
applicable Product, the relevant New Clinical Product, New Clinical Placebo or New Clinical API (including sufficient time to allow for ordering and delivery of Materials and Existing Clinical API), 

in each case as specified in Part A of Schedule 1 or as otherwise notified in writing by GSK to the Purchaser from time to time. For the
avoidance of doubt, Delivery in respect of New Clinical Product, New Clinical Placebo and/or New Clinical API shall not occur until (i) the Third Party responsible for undertaking analytical testing in respect of the applicable Product has
conducted the relevant analytical tests and provided the results of those test to GSK and (ii) GSK has conducted a technical release of that Product on the basis of such results and in accordance with the Quality Agreement and, accordingly, the
Lead Time does not identify the expected date of Delivery in respect of New Clinical Product, New Clinical Placebo and/or New Clinical API. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 9 

 CONFIDENTIAL 
  

 “Losses” means all losses, claims, liabilities, costs, awards, fines,
penalties, expenses (including reasonable legal fees and other professional expenses) and damages of any nature whatsoever and whether or not reasonably foreseeable or avoidable. 

“Maintained Excess Clinical API” has the meaning given in Clause 5.1(C).  

“Manufacture” means the planning, purchasing of Materials for, manufacturing, processing, compounding, storage, filling,
packaging, labelling, leafleting, testing, waste disposal, quality assurance and control, despatch, sample retention and, to the extent permitted by Applicable Law, stability testing and technical release. 

“Manufacturing Licence” means all licences necessary for or in connection with the Manufacture of a Product at the
Manufacturing Site. 
 “Manufacturing Site” means: 
  

	 	(A)	 in respect of Existing Clinical API and (if applicable) New Clinical API, the manufacturing site operated by
GSK or its Affiliate at Cork, Ireland; and 

  

	 	(B)	 in respect of Existing Clinical Products, Existing Clinical Placebo, New Clinical Products and New Clinical
Placebo, the manufacturing site operated by GSK or its Affiliate at Barnard Castle, UK. 

 “Materials”
means APIs, raw materials, intermediates, excipients, processing aids, packaging and labelling materials and components used in Manufacture of the Products. 

“Minimum Order Quantity” or “MOQ” means, in respect of a Product, the quantity equivalent to a standard batch
size for such Product, as specified in Part A of Schedule 1 or as otherwise notified by GSK in writing. 
 “New Clinical
API” has the meaning set forth in Schedule 1.  
 “New Clinical Placebo” has the meaning set forth in
Schedule 1.  
 “New Clinical Products” means New 1% Clinical Products and New 0.5% Clinical Products,
individually or collectively as the context may require. 
 “New 1% Clinical Product” has the meaning set forth in Schedule
1. 
 “New 0.5% Clinical Product” has the meaning set forth in Schedule 1. 

“Nominated Manufacturer” means any member of the GSK Group to whom GSK subcontracts the Manufacture of Products at the
Manufacturing Site. 
 “Nominated Supplier” means any member of the GSK Group to whom GSK
sub-contracts the supply of Products to the Purchaser. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 10 

 CONFIDENTIAL 
  

 “Order” means any binding judgments, orders, writs, injunctions, decisions,
rulings, decrees and awards of any Governmental Entity or arbitral body. 
 “Party” means a party to this Agreement, and
“Parties” shall be construed accordingly. 
 “Patents” means (i) all patents and pending patent
applications, including any and all provisional applications, substitutions, continuations, continuations-in-part, renewals, supplementary protection certificates,
registrations, extensions, reissues, reexaminations or divisionals; (ii) all patent applications filed either from such patents, patent applications or provisional applications or from an application claiming priority from either of these,
including divisionals, continuations, continuations-in-part, substitutions, provisionals, converted provisionals, and continued prosecution applications; (iii) any
and all patents that have issued or in the future issue from the foregoing patents and patent applications described in clauses (i) and (ii), including utility models, petty patents and design patents and certificates of invention;
(iv) any and all extensions or restorations by existing or future extension or restoration mechanisms, including revalidations, reissues, re-examinations, supplemental examinations, inter partes reviews,
post-grant reviews, oppositions and other existing or future post-issuance proceedings, and extensions (including future pending or issued unexpired patent term extension or supplemental protection certificate or equivalent extension right) of the
foregoing patents or patent applications described in clauses (i), (ii) and (iii); (v) any and all letters patent in the United States and all foreign countries which may be granted therefore and thereon; and (vi) all rights under the
International Convention for the Protection of Industrial Property. 
 “Person” means any individual, general partnership,
limited partnership, limited liability partnership, limited liability company, corporation, trust, joint venture, association, organization or other entity or Governmental Entity, or any agency or political subdivisions thereof. 

“Personnel” has the meaning given in Clause 22.2. 

“Price” means: 
  

	 	(A)	 in respect of a Product, the price set forth in (or determined in accordance with) Part B of Schedule 1 and
Clause 11; and 

  

	 	(B)	 in respect of a Development Service, the price set forth in (or determined in accordance with) Schedule 2 and
the applicable Scope of Work. 

 “Proceedings” means any action, arbitration, investigation, litigation or
suit commenced, brought, conducted, or heard by or before, or otherwise involving, any Governmental Entity or arbitrator. 

“Product” means the Existing Clinical API, Existing Clinical Products, Existing Clinical Placebo, New Clinical API, New
Clinical Products, and New Clinical Placebo, individually or collectively as the context may require. 
 “Product Base Cost”
has the meaning given in Schedule 1, Part B.  
 “Product Event” has the meaning given in Clause 20.2. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 11 

 CONFIDENTIAL 
  

 “Product Licence” means any product licence, marketing authorisation or
other authorisation(s) required for the Development, Commercialisation, clinical investigation, import or export of the Products in the Territory. 

“Purchase Agreement” means the Asset Purchase Agreement dated July 10, 2018 by and among GlaxoSmithKline Intellectual
Property Development Limited, Glaxo Group Limited and Dermavant Sciences GmbH. 
 “Purchased Clinical API” has the meaning
given in Clause 5.1(B) 
 “Purchaser Arising IP” has the meaning given in Clause 8.3. 

“Purchaser Background IP” means any Intellectual Property that is 

 

	 	(A)	 owned by (or licensed to) the Purchaser or its Affiliates at the Effective Date, including the Transferred IP;
or 

  

	 	(B)	 developed or acquired by, or licensed to (other than by GSK), the Purchaser or its Affiliates on or after the
Effective Date. 

 “Purchaser Indemnitee” has the meaning given in Clause 28.1. 

“Purchaser Intellectual Property” means Purchaser Background IP and Purchaser Arising IP. 

“Purchaser Materials” means the Purchased Clinical API and other Toll Materials. 

“Purchaser Materials Certificate of Analysis” means a document identified as such, signed or released by a Qualified Person
(or Person designated by the Qualified Person to sign or release such document) in accordance with cGMP that: 
  

	 	(A)	 sets forth the analytical test results for each specified lot of Purchaser Materials; and

  

	 	(B)	 confirms that such Purchaser Materials have been manufactured in accordance with the applicable Specifications.

 “Qualified Person” means the Person employed (or whose services are otherwise engaged) by (i) GSK
or its Affiliate (in respect of Existing Clinical API, Existing Clinical Product and Existing Clinical Placebo) or (ii) the Purchaser or its Affiliate (in respect of New Clinical API, New Clinical Product and New Clinical Placebo) who is
responsible for authenticating the pharmaceutical analysis of the applicable Product, as required under Applicable Law (including, if applicable, EC Directive 2001/83/EC). 

“Quality Agreement” means the quality agreement between GSK (or its Affiliate) and the Purchaser to be entered into within
[***] after the Effective Date. 
 “Quality Management System” means the GSK Group’s system of quality management
controls designed to ensure regulatory compliance and to assure product safety, quality and efficacy in the GSK Group’s operations with regard to the manufacture and supply of investigational materials or products for sale or distribution and
implemented pursuant to the GSK Group’s Corporate Policy entitled Quality Management System (POL-GSKF-514). 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 12 

 CONFIDENTIAL 
  

 “Receiving Party” has the meaning given in Clause 22.1. 

“Reconciliation Value” means the value calculated in accordance with the formula set forth in Schedule 3 (Toll Manufacture
Provisions), paragraph 3.3. 
 “Regulatory Approval” means, in a particular country or regulatory jurisdiction, any and
all approvals (including pricing and reimbursement approvals), licences, registrations or authorizations of any Regulatory Authority or any other Governmental Entity (including INDs, product approvals, pricing approvals, import permits, and, in each
case any supplements and amendments thereto) necessary or useful for the testing, commercial manufacture, distribution, marketing, promotion, offer for sale, use, import, export and sale of any compound or (bio)pharmaceutical product in a given
country or regulatory jurisdiction. 
 “Regulatory Approval Application” means an application submitted to the appropriate
Regulatory Authority seeking Regulatory Approval of a Product in a country in the Territory, including INDs and NDAs (new drug applications). 

“Regulatory Authority” means, in a particular country or regulatory jurisdiction, any applicable supranational, national,
regional, state or local regulatory agency, department, bureau, commission, council or other Governmental Entity involved in granting Regulatory Approval for a product in such country or regulatory jurisdiction, including without limitation, the
FDA. 
 “Regulatory Documentation” means any and all (i) applications, registrations, licenses, authorizations and
approvals, and non-clinical and clinical study authorization applications or notifications (including all INDs, Regulatory Approval Applications, Regulatory Approvals and amendments and supplements to any of
the foregoing and all supporting files, writings, data, studies and reports) prepared for submission to a Regulatory Authority or any other Governmental Entity with a view to the obtaining or maintaining of any Regulatory Approval,
(ii) substantive correspondence to or with the FDA, any Regulatory Authority or any other Governmental Entity, (iii) pharmacovigilance databases, adverse drug experience reports and associated documents, and investigations of adverse drug
experience reports, and (iv) nonclinical, clinical and other data contained or referenced in or supporting any of the foregoing.  

“Rejection Notice” has the meaning given in Clause 15.1. 

“Renewal Term” has the meaning given in Clause 31.1. 

“Reporting Year” means, in respect of each New Clinical Product, (i) the period commencing on the Effective Date and
ending on the next occurring December 31st and (ii) each subsequent Calendar Year during the Term.  
 “Returns”
shall mean any and all returns, reports, forms (including elections, declarations, amendments, claims for refund, schedules, information returns or attachments thereto) and any other documents filed or required to be filed with a Governmental Entity
with respect to Taxes. 
 “Safety Stock Fee” has the meaning given in Clause 6.3. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 13 

 CONFIDENTIAL 
  

 “Sales Tax” means any sales, goods, services, turnover, value-added, or
similar Tax and any Tax charged on the import or export of any goods or services, including VAT but excluding any Tax imposed on or with respect to the income of GSK or any of its Affiliates (however denominated). 

“Scope Change” has the meaning given in Clause 3.6.  

“Scope of Work” has the meaning given in Clause 3.2. 

“Storage Fee” has the meaning given in Clause 5.4. 

“Specifications” means, with respect to each Product, the technical specifications for the required quality and
characteristics of the Product as agreed between the Parties in writing in the Quality Agreement (as the same may be amended from time to time in accordance with this Agreement). 

“Tax” or “Taxes” means any and all taxes, assessments, levies, tariffs, duties, or other charges imposed by a
Governmental Entity, including all federal, state, territory, local, foreign and other income, franchise, profits, gross receipts, capital gains, capital stock, transfer, sales, use, Value Added Tax, ad valorem, occupation, property, excise,
severance, windfall profits, stamp, licence, payroll, employment, unemployment, disability, social security, withholding, escheat, environmental, customs duty, estimated and other taxes, assessments, charges, duties, fees, levies or other
governmental charges imposed by any Governmental Entity of any kind whatsoever (whether payable directly or by withholding and whether or not requiring the filing of a Return), together with any penalties and interest and any additional amounts with
respect thereto and shall include any liability for such amounts as a result of (i) being a transferee or successor or member of a combined, consolidated, unitary or affiliated group, or (ii) a contractual obligation to indemnify any
Person or other entity. 
 “Technical Change Procedure” means the procedure for changing the Specifications for the Product,
as set forth in the Quality Agreement. 
 “Technology Transfer” has the meaning given in Clause 30.1.  

“Technology Transfer Plan” has the meaning given in Clause 30.1. 

“Term” has the meaning given in Clause 31.1. 

“Terminating Party” has the meaning given in Clause 31.3. 

“Territory” means worldwide, excluding the China Territory. 

“Third Party” means a Person who or which is neither a Party nor an Affiliate of a Party. 

“Third Party Claim” means all demands, claims, actions and Proceedings by a Third Party or liability to a Third Party (in each
case, whether criminal or civil, in contract, tort or otherwise) for Losses related to such demand, claim, action or Proceeding. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 14 

 CONFIDENTIAL 
  

 “Toll Material” means, in respect of a New Clinical Product, API for use in
the Manufacture of that New Clinical Product, including any applicable (i) Purchased Clinical API purchased by the Purchaser pursuant to Clause 5, (ii) Maintained Excess Clinical Supply maintained by GSK on behalf of the Purchaser pursuant to
Clause 5 and subsequently purchased by Purchaser in accordance with Clause 2.2(B), or (iii) New Clinical API Manufactured by GSK and purchased by the Purchaser pursuant to this Agreement. 

“Value Added Tax” or “VAT” means the tax imposed by Council Directive 2006/112/EC of the European Community
and any national legislation implementing that directive together with legislation supplemental thereto and in particular, in relation to the United Kingdom, the tax imposed by the Value Added Tax Act of 1994 or other tax of a similar nature imposed
elsewhere instead of or in addition to value added tax; and outside the European Union (and including the United Kingdom in the event that the United Kingdom ceases to be a member of the European Union during the term of this Agreement), any tax
corresponding to, or substantially similar to, the common system of value added tax referred to in this definition, excluding any Tax imposed on or with respect to the income of GSK or any of its Affiliates. 

“WIP” has the meaning given to it in Schedule 3 (Toll Manufacture Provisions) paragraph 2.1. 

“Working Hours” means 09:00 to 17:00 on a Business Day. 

 

	1.2	 In this Agreement, unless otherwise specified: 

 

	 	(A)	 any Schedules form part of this Agreement and shall have the same force and effect as if set forth in the body
of this Agreement, and references to this Agreement include them; 

  

	 	(B)	 references to Recitals, Clauses and Schedules are to recitals and clauses of, and schedules to, this Agreement
and references in a Schedule or part of a Schedule to paragraphs are to paragraphs of that Schedule or that part of that Schedule; 

  

	 	(C)	 the headings and contents table in this Agreement are for convenience only and do not affect its
interpretation; 

  

	 	(D)	 references to the singular include the plural and vice versa; 

 

	 	(E)	 words denoting persons include individuals, companies, partnerships, unincorporated associations and other
bodies (in each case, wherever resident and whether or not having separate legal personality) and references to a company shall include any company, corporation or other body corporate wherever or however incorporated or established;

  

	 	(F)	 a reference to: 

  

	 	(i)	 a statute, statutory provision, regulation, directive or other enactment shall be construed as including a
reference to any subordinate legislation or instrument made from time to time under that statute, provision, regulation, directive or enactment whether before, on or after the date of this Agreement; and 

 

	 	(ii)	 a statute, statutory provision, regulation, directive, enactment or subordinate legislation shall be construed
as including a reference to that statute, provision, regulation, directive, enactment or subordinate legislation as in force at the date of this Agreement and as from time to time amended, modified, consolidated, superseded, re-enacted or replaced (whether with or without modification) after the date of this Agreement; 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 15 

 CONFIDENTIAL 
  

	 	(G)	 general words shall not be given a restrictive meaning by reason of the fact that they are preceded by or
followed by particular examples intended to be embraced by the general words and accordingly: 

  

	 	(i)	 the rule known as ejusdem generis shall not apply; and 

 

	 	(ii)	 the words “includes”, “including” and “in particular” (or
similar term) are not to be construed as implying any limitation and shall be read and construed as if immediately followed by the words “without limitation”; 

 

	 	(H)	 any reference to this Agreement or any other document is to this Agreement or that document as in force for the
time being and as amended from time to time in accordance with this Agreement and/or that document (as the case may be); 

  

	 	(I)	 if a payment under this Agreement is due on a day which is not a Business Day, the due date for that payment
shall be the next Business Day; and 

  

	 	(J)	 terms other than those defined in this Agreement shall be given their plain English meaning and those terms,
acronyms and phrases known in the pharmaceutical/ healthcare industry shall be interpreted in accordance with their generally accepted meanings. 

  

	2.	 GSK’S OBLIGATIONS 

 

	2.1	 With effect from the Effective Date and in consideration of the Price, GSK shall (i) supply to the
Purchaser Existing Clinical API in accordance with Clause 5 (Purchase, Maintenance and Destruction of Existing Clinical API), (ii) supply to the Purchaser Existing Clinical Products and 

Existing Clinical Placebo as ordered from time to time by the Purchaser in accordance with Clause 9 (Product Forecasts and Orders),
(iii) Manufacture (or have Manufactured) and supply to the Purchaser, as applicable, New Clinical API, New Clinical Products, and New Clinical Placebo as ordered from time to time by the Purchaser in accordance with Clause 2.2 and Clause 9
(Product Forecasts and Orders), and (iv) perform the Development Services as set forth in Schedule 2 (Scope of Work for Development Services), in each case subject to the terms of this Agreement. 

 

	2.2	 The Purchaser shall rely initially on Purchased Clinical API, Existing Clinical Products and Existing Clinical
Placebo to fulfil its clinical and nonclinical development program needs. 

  

	 	(A)	 To the extent Purchaser requires additional API (other than Purchased Clinical API or the Maintained Excess
Clinical API) to support its clinical and nonclinical development program needs, in each case such that GSK would be required to Manufacture (or have Manufactured) New Clinical API, the Parties will discuss applicable lead times, the MOQ, and
Pricing to support the Manufacture of such New Clinical API; provided that applicable lead times (which are likely to exceed [***]) will be dependent on the availability of GSK’s pilot plant in [***] as well as the time required to
complete the multiple stages of manufacture in relation to the New Clinical API. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 16 

 CONFIDENTIAL 
  

 [***] 
  

	 	(B)	 To the extent Purchaser requires additional Clinical Product (i.e., Clinical Product other than Existing
Clinical Products) to support its clinical and nonclinical development program needs, GSK shall Manufacture (or have Manufactured) New Clinical Product in accordance with the provisions of Schedule 3 (Toll Manufacture Provisions). The Parties
acknowledge and agree that GSK shall Manufacture (or have Manufactured) all New Clinical Product on a toll Manufacturing basis (i) initially using the Purchased Clinical API that the Purchaser shall provide to GSK on a zero cost (consignment)
basis, (ii) secondly, using the Maintained Excess Clinical API purchased by Purchaser pursuant to Clause 5.4 that the Purchaser shall provide to GSK on a [***] basis, and (iii) lastly using any New Clinical API Manufactured pursuant to
Clause 2.2(A) and provided to GSK on a [***] basis. 

  

	 	(C)	 To the extent Purchaser requires additional Clinical Placebo (i.e., Clinical Placebo other than Existing
Clinical Placebo) to support its clinical and nonclinical development program needs, GSK shall Manufacture (or have Manufactured) New Clinical Placebo in [***]. 

 

	2.3	 GSK shall Manufacture (or have Manufactured), as applicable, the New Clinical API, New Clinical Products, and
New Clinical Placebo at the Manufacturing Site (and GSK has Manufactured (or had Manufactured), as applicable, the Existing Clinical API, Existing Clinical Products, and Existing Clinical Placebo at the Manufacturing Site), in each case in
accordance with: 

  

	 	(A)	 Current Good Manufacturing Practice; 

 

	 	(B)	 the applicable Specifications (or, in respect of Existing Clinical API, Existing Clinical Products, and
Existing Clinical Placebo, the specifications in place at the date of Manufacture of such Existing Clinical API, Existing Clinical Products, and Existing Clinical Placebo); 

 

	 	(C)	 the Manufacturing Licence; 

 

	 	(D)	 the Quality Agreement; and 

 

	 	(E)	 all laws and regulations relevant to the Manufacture of the relevant Product at the Manufacturing Site.

  

	2.4	 Notwithstanding Clause 30.1, GSK shall not be required to use (and shall not use) in the Manufacture of New
Clinical Product any API that has not been Manufactured by GSK or its Affiliate. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
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	2.5	 Subject to Clause 3 (Development Services), GSK shall perform the Development Services, if any are
requested and agreed by the Parties, in accordance with the Scope of Work and all laws and regulations relevant to the performance of the Development Services. 

 

	2.6	 Subject to Clause 2.3 and without prejudice to the generality of Clause 37
(Sub-Contractors), the Parties hereby acknowledge that GSK may: 

  

	 	(A)	 use any member of the GSK Group to Manufacture the New Clinical API, New Clinical Products, and New Clinical
Placebo for and on behalf of GSK, provided that: 

  

	 	(i)	 such Manufacture shall take place at the Manufacturing Site; and 

 

	 	(ii)	 GSK shall remain primarily liable to the Purchaser as principal obligor for the performance of its obligations
under this Agreement in respect of such Manufacture; and 

  

	 	(B)	 nominate any member of the GSK Group to act as its Nominated Supplier under this Agreement to supply Products
to, and receive payment from, the Purchaser, provided that GSK shall remain primarily liable to the Purchaser as principal obligor for the performance of its obligations under this Agreement in respect of such supply.

  

	2.7	 GSK reserves the right to change the Nominated Manufacturer and/or the Nominated Supplier from time to time by
notice in writing to the Purchaser. 

  

	2.8	 Notwithstanding the entry into force of this Agreement in accordance with Clause 31.1, the commencement of
GSK’s obligations under this Agreement with respect to the Manufacture and supply of the Products, as applicable, is subject to, and conditional on, the entry of the Parties and/or their Affiliates into the Quality Agreement.

  

	2.9	 The Purchaser acknowledges that GSK will cease performing the Development Services and the Manufacture and
supply of the Products at the latest on expiry of the Term. For the avoidance of doubt, without prejudice to Clause 32 (Consequences of Expiry or Termination) and except as otherwise provided for under Clause 30 (Technology Transfer),
the Purchaser shall be solely responsible for making alternative arrangements for the Manufacture and supply of the Products and the performance of any development services in connection with the Products following the expiry or termination of this
Agreement. 

  

	3.	 DEVELOPMENT SERVICES 

 

	3.1	 The Parties may agree that GSK shall perform certain development work in connection with:

  

	 	(A)	 the Manufacture and supply of New Clinical Product and/or New Clinical Placebo (including new configurations of
such Products); and/or 

  

	 	(B)	 the provision of data to enable Purchaser’s authoring of clinical trial regulatory submissions,

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
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 (“Development Services”), provided that such Development Services
shall not include development work in anticipation of the manufacture or regulatory approval of active ingredients or products specifically for Commercialisation, provided, however, that GSK acknowledges and agrees that such
Development Services may result in deliverables that can or will subsequently be used for Commercialisation (i.e., generation of new product configurations). 
  

	3.2	 The Purchaser may from time to time request that GSK perform Development Services (but not, for the avoidance
of doubt, any other Development). GSK shall consider each such request and shall, acting reasonably but in its sole discretion, taking due account of GSK’s and/or the Nominated Manufacturer’s and/or the GSK Group’s business,
constraints, available resources and plans, determine whether or not to support the requested Development Services. Any Development Services agreed between the Parties shall be documented in a scope of work in the form set forth in Schedule 2 (each
a “Scope of Work”) which shall define the roles and responsibilities of the Parties in the performance of such Development Services, including the tasks to be completed and any deliverables to be delivered by GSK, together with a non-binding timeline for the performance, completion and/or delivery of the applicable Development Services. 

  

	3.3	 Each Party shall use its Commercially Reasonable Efforts to perform the Development Services in accordance with
the applicable Scope of Work and the timelines for the performance, completion and/or delivery of such Development Services set forth in the applicable Scope of Work. 

 

	3.4	 Neither GSK nor any of its Affiliates shall bear any liability under or in relation to this Agreement in
connection with any failure to perform, complete or deliver, or delay in performing, completing or delivering, any Development Services resulting from any failure, default or delay on the part of the Purchaser in performing the tasks and
obligations, or delivering the deliverables, assigned to the Purchaser under the applicable Scope of Work or resulting from any delay in supply, or defect in, the Purchaser. 

 

	3.5	 The Purchaser shall pay to GSK (or its nominated Affiliate) such fees, costs, expenses, payments and other sums
as may be specified in a Scope of Work. In the event that the Scope of Work does not provide for the payment of fees, costs, expenses, milestone payments or other sums, the Purchaser shall reimburse to GSK (or its nominated Affiliate) all costs and
expenses incurred in respect of the Development Services undertaken pursuant to such Scope of Work, provided that such costs and expenses are agreed in advance by the Parties. 

 

	3.6	 Any proposed change or addition to the Development Services or the timeline for the performance, completion or
delivery of such Development Services shall be deemed a proposal to change the Scope of Work (a “Scope Change”). Either Party may propose a Scope Change, but no Scope Change shall be implemented without the prior written agreement
of the other Party. If a Scope Change is agreed by the Parties, the Parties shall document the Scope Change (including any change in fees payable) in a supplementary addendum to, or an amended and restated version of, the Scope of Work and, with
effect from the date on which the Scope Change is so documented, all references in this Agreement to the Scope of Work shall be deemed to be references to the Scope of Work as so supplemented or amended and restated (as the case may be) and all
references to the Development Services shall be deemed to be references to the Development Services as documented in the supplemented, or amended and restated, Scope of Work. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
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	3.7	 At the end of each month, GSK and the Purchaser shall review the status of the Development Services (and each
Party shall share any relevant information for the purposes of such review) and, in the event of any Scope Change and/or delay in the performance of the Development Services, each Party shall use Commercially Reasonable Efforts to agree on new
timeframes for the applicable Development Services. If the Parties fail to agree on new timeframes for the applicable Development Services within [***] of commencing discussions and a dispute arises, such dispute shall be determined in accordance
with the provisions of Clause 45 (Dispute Resolution). 

  

	3.8	 The Purchaser acknowledges that, save for the Development Services and with effect from the Effective Date, the
GSK Group will not support any development work in respect of the Manufacture of any Product (including variations to Product Licences required as a result of such work), unless such work is required by Applicable Law. The Purchaser shall [***] in
respect of any such development work undertaken pursuant to this Clause 3.8 and the implementation of such development work, provided that [***]. 

  

	3.9	 In the event that the Purchaser fails to pay any undisputed sum in respect of any Development Services, or any
development work (or its implementation) for which the Purchaser is to bear the cost pursuant to Clause 3.8, then in such an event: 

  

	 	(A)	 neither GSK nor its Affiliates shall bear any liability under this Agreement for any breach of its terms
resulting from any failure to carry out, or delay in carrying out, such Development Services or other development work; and 

  

	 	(B)	 the Purchaser shall indemnify each member of the GSK Group against all actions, Proceedings, demands and claims
by any Third Party arising from any failure to carry out, or delay in carrying out, such work. 

  

	4.	 PURCHASER’S OBLIGATIONS 

 

	4.1	 Subject to Clause 30.4, during the Term, the Purchaser shall purchase [***] of its requirements for Products
from GSK (or the Nominated Supplier) in accordance with this Agreement. 

  

	4.2	 The Purchaser shall not (itself or through any Third Party): 

 

	 	(A)	 expressly or implicitly market, advertise or otherwise promote in any way the sale of any Product as a GSK
Group product or as containing any GSK Group product; or 

  

	 	(B)	 use the name or logo of any member of the GSK Group in connection with any Product, 

in each case, unless (and only to the extent) required to do so by Applicable Law. If the Purchaser contends that it is required by Applicable
Law to do any act or thing covered by this Clause 4.2, it shall: 
  

	 	(i)	 prior to doing any such act or thing, provide GSK with a copy of all relevant materials; and

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
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	 	(ii)	 consider in good faith any comments GSK may have in respect of the manner in which the name of any member of
the GSK Group is used in such materials; and 

  

	 	(iii)	 if such materials include the logo of any member of the GSK Group, not use such materials without GSK’s
prior written approval (such approval not to be unreasonably withheld). 

 For the avoidance of doubt, a breach of this
Clause 4.2 will constitute a material breach of this Agreement. 
  

	4.3	 Purchaser shall manage or perform all services for Clinical Trial labelling and distribution to the
Purchaser’s Clinical Trial centres. 

  

	5.	 PURCHASE, MAINTENANCE, AND DESTRUCTION OF EXISTING CLINICAL API 

 

	5.1	 The Purchaser shall: 

 

	 	(A)	 no later than [***], provide GSK with written notification of the full amount of Existing Clinical API that the
Purchaser requires for the purposes of its clinical and nonclinical development program during the Term and desires to purchase from GSK; 

  

	 	(B)	 no later than [***], purchase all such requested Existing Clinical API from GSK (the “Purchased
Clinical API”); and 

  

	 	(C)	 no later than [***], provide GSK with written notification of any excess Existing Clinical API (i.e., any
Existing Clinical API not included in the Purchased Clinical API) (the “Excess Clinical API”) Purchaser requests GSK to maintain (the “Maintained Excess Clinical API”). 

 

	5.2	 The Purchaser acknowledges and agrees that as of the Effective Date, the expectation of the Parties is that the
Existing Clinical API will be sufficient to support Purchaser’s expected clinical and nonclinical development program during the Term, unless batch failures, regulatory circumstances or unexpected results obtained in the course of any Clinical
Trial, in each case outside the control of Purchaser, or expiry warrants the Manufacture of New Clinical API. 

  

	5.3	 GSK shall invoice the Purchaser for the Purchased Clinical API. Title to such Purchased Clinical API shall pass
to the Purchaser upon receipt of such invoice. Upon such transfer of title, such Purchased Clinical API shall be a Toll Material for the purposes of Schedule 3 (Toll Manufacture Provisions). 

 

	5.4	 During the Term, the Purchaser shall pay GSK a storage fee to cover [***] incurred in connection with holding
and storing the Maintained Excess Clinical API on behalf of the Purchaser (the “Storage Fee”). The Storage Fee is set forth on Schedule 4 (Fees). During the Term, Purchaser may purchase the Maintained Excess Clinical API from
GSK (at the Price set forth in Part B of Schedule 1). GSK shall invoice the Purchaser for the subsequent purchase of Maintained Excess Clinical API. Title to such purchased Maintained Excess Clinical API shall pass to the Purchaser upon receipt of
such invoice. Upon such transfer of title, such purchased Maintained Excess Clinical API shall be a Toll Material for the purposes of Schedule 3 (Toll Manufacture Provisions) and any work-in-progress into which such purchased Maintained Excess Clinical API has been incorporated shall be WIP for the purposes of Schedule 3 (Toll Manufacture Provisions). 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
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	5.5	 After [***], GSK is entitled to destroy any Excess Clinical API not otherwise included in the Purchased
Clinical API or Maintained Excess Clinical API. 

  

	6.	 MATERIALS 

  

	6.1	 GSK (or the Nominated Manufacturer) shall be responsible for ordering and purchasing all Materials required to
enable GSK to meet its Development Services, Manufacturing and supply obligations under this Agreement; provided that for the purposes of Manufacturing New Clinical Product the Purchaser shall provide Purchased Clinical API, Maintained Excess
Clinical API and/or New Clinical API previously purchased from GSK on a [***] basis. The costs of the Materials and the management and procurement of such Materials shall be [***]. 

 

	6.2	 Subject to the terms of the Quality Agreement and Clause 17.1, GSK may change the supplier of any Materials at
any time; provided that GSK will consult with the Purchaser prior to changing or introducing any new Materials to meet its Manufacturing and supply obligations under this Agreement. 

 

	6.3	 During the Term, GSK shall maintain safety stock quantities of raw materials such that GSK will be able to
support the Purchaser’s orders for New Clinical Products or New Clinical Placebo within [***] of the current Forecast Schedule. The Purchaser shall pay GSK a storage fee to cover any GSK costs and expenses incurred in connection with holding
and storing such safety stock (the “Safety Stock Fee”). The Safety Stock Fee is set forth on Schedule 4 (Fees). 

  

	7.	 PURCHASER MATERIALS 

 

	7.1	 The Purchaser shall supply the Purchaser Materials to GSK in a timely manner [***] on a [***] basis. Purchased
Clinical API and Maintained Excess Clinical API subsequently purchased by the Purchaser pursuant to Clause 2 shall be deemed to have been supplied in a timely manner if the Parties agree that such Purchaser Materials shall be left in GSK’s
possession on consignment. 

  

	7.2	 GSK will not (and will procure that the Nominated Manufacturer does not) use the Purchaser Materials for any
purpose other than the Manufacture of New Clinical Products for the Purchaser under this Agreement (including for testing, quality and compliance purposes). 

  

	7.3	 GSK shall not be liable for any failure to meet, or for any delay in meeting, any Firm Order for New Clinical
Products if such failure is as a result of any failure by the Purchaser to supply, or delay by the Purchaser in supplying, in a timely manner sufficient quantities of Purchaser Materials that comply with all applicable requirements of Applicable
Law, cGMP and the applicable Specifications and have sufficient unexpired shelf life to enable such Purchaser Materials to be the Manufacture of Products in accordance with the schedule of Deliveries of any New Clinical Products contemplated by the
Forecast Schedule; except in the event that such failure is due to the failure of GSK to supply New Clinical API in a timely manner or that meets cGMP (having regard to the Lead Time agreed between the Parties in respect of such New Clinical API
pursuant to Clause 2.2(A) and the time required for analytical testing and GSK’s release in accordance with (and to the extent required by) the Quality Agreement prior to Delivery of such New Clinical API). 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
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	7.4	 Each consignment of Purchaser Materials will be accompanied by Certificate of Analysis relating to such
Purchaser Materials signed by, as applicable: 

  

	 	(A)	 GSK’s or its Affiliate’s Qualified Person in respect of Purchased Clinical API and/or Maintained
Excess Clinical API subsequently purchased by the Purchaser pursuant to Clause 2; or 

  

	 	(B)	 the Purchaser’s Qualified Person in respect of New Clinical API. 

 

	7.5	 The Purchaser shall retain title to the Purchaser Materials at all times. From the time Purchaser Materials are
delivered to GSK’s loading dock at the relevant Manufacturing Site to the time such Purchaser Materials are returned (or Product is delivered) to the Purchaser’s designated carrier at GSK’s loading dock, GSK shall bear the risk of
loss of or damage to such Purchaser Materials arising from [***] and shall be responsible for compensating the Purchaser for the lost or damaged Purchaser Materials (up to an amount not exceeding the Actual Cost of such Purchaser Materials to the
Purchaser). At all other times and in all other circumstances, the Purchaser and shall bear the risk of loss or destruction to the Purchaser Materials. 

  

	7.6	 For the avoidance of doubt, GSK, or its Affiliate, has Manufactured (or, in the case of any New Clinical API,
will Manufacture under this Agreement) all Purchaser Materials. 

  

	7.7	 The Purchaser shall inform and keep GSK and the Nominated Manufacturer informed of all safety hazards and
changes in regulations and guidance (statutory or otherwise) which the Purchaser or its Affiliate knows or believes affect or may affect the use, handling, storage, labelling, transport, treatment and disposal of any Purchaser Materials.

  

	8.	 INTELLECTUAL PROPERTY 

 

	8.1	 Each Party shall at all times remain the owner of its respective GSK Background IP or Purchaser Background IP.

  

	8.2	 All Intellectual Property or Know-How generated by or on behalf of GSK
(whether alone or together with Purchaser or Purchaser’s Affiliate) in the course of the performance of the obligations, services and activities under this Agreement (including Intellectual Property, KnowHow or improvements relating to the
manufacture of pharmaceutical products generally or related to the Manufacturing Site), other than Intellectual Property or Know-How that is exclusive to Developing, Manufacturing, or Commercialising the API,
Clinical Products, Clinical Placebo or the Purchaser Background IP, shall be owned by GSK (the “GSK Arising IP”). For clarity, GSK Arising IP shall not include Purchaser Background IP or Purchaser Arising IP. 

 

	8.3	 All Intellectual Property or Know-How generated by or on behalf of the
Parties (or either of them) in the course of the performance of the obligations, services and activities under this Agreement that is exclusive to Developing, Manufacturing, or Commercialising the API, Clinical Products. Clinical Placebo or the
Purchaser Background IP shall be owned by the Purchaser (the “Purchaser Arising IP”). For clarity, Purchaser Arising IP shall not include GSK Background IP or GSK Arising IP. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
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	8.4	 The Purchaser hereby grants to GSK and its Affiliates a non-exclusive,
worldwide, fully paid-up and royalty free licence (with the right to grant sub-licences to Nominated Manufacturers) to use the Purchaser Intellectual Property solely as necessary for the performance of
GSK’s obligations under this Agreement, including supplying and Manufacturing (or having Manufactured) the applicable Products and the performance of the Development Services. GSK will not use any Purchaser Background IP, Purchaser Know-How or Purchaser Arising IP for any other purpose nor will it disclose or otherwise share any Purchaser Background IP, Purchaser Know-How or Purchaser Arising IP with any
Third Party. 

  

	8.5	 To the extent that the output of the Development Services or any deliverables or results produced by GSK in
connection with its performance under this Agreement incorporates any GSK Background IP, GSK Know-How or GSK Arising IP, GSK hereby grants to the Purchaser a
non-exclusive, perpetual, fully paid-up and royalty free licence (with the right to grant sublicences, including through multiple tiers) to use any such GSK Background
IP, GSK KnowHow or GSK Arising IP solely and exclusively to the extent necessary for the purposes of Developing, Manufacturing or Commercialising the Products. Except as otherwise expressly provided for under the Purchase Agreement, the Purchaser
shall not use any GSK Background IP, GSK Know-How or GSK Arising IP anywhere else or for any other purpose and shall not disclose or otherwise share GSK Background IP, GSK
Know-How or GSK Arising IP with any Third Party. 

  

	8.6	 At the other Party’s reasonable expense, each Party shall do all such further acts and things, and execute
all such other documents as the other Party may from time to time reasonably require in order to give full effect to the assignments and licences of rights granted under this Agreement. 

 

	8.7	 Nothing in this Agreement shall be deemed or implied to be, and each Party disclaims all implied rights to, the
grant by a Party to the other Party of any right, title or interest in such Party’s Confidential Information or Intellectual Property, except as are expressly set forth in this Agreement. 

 

	9.	 PRODUCT FORECASTS AND ORDERS 

 

	9.1	 The Purchaser shall provide to GSK or (if GSK so directs) the Nominated Manufacturer, on the [***] (or on such
other date or at such frequency, as the Parties may agree in writing), a rolling forecast schedule of volume requirements for each Clinical Product and Clinical Placebo for at least the following [***] or such shorter period as may then remain under
the Term (the “Forecast Schedule”). The Forecast Schedule shall show estimates of required Product quantities by SKU on a [***] basis for the Firm Zone and thereafter on a [***] basis. Without prejudice to Clause 2.8, the first such
Forecast Schedule shall be provided to GSK on the Effective Date. 

  

	9.2	 The quantity requirements shown for Clinical Product and Clinical Placebo in the [***] of the Forecast Schedule
(the “Firm Zone”) will constitute a binding commitment on the part of the Purchaser to purchase such specified quantities of such Products. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
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	9.3	 The Purchaser shall deliver purchase orders or equivalent documentation, corresponding to the Clinical Product
and Clinical Placebo volumes shown in [***] of the Firm Zone to GSK on a [***] basis. Each purchase order shall, as applicable, unless otherwise agreed between the Parties: 

 

	 	(A)	 comprise of quantities equivalent to the MOQ (or a multiple thereof, each as set forth on Schedule 1) for each
Product covered by that purchase order. If GSK does (in its discretion) accept a purchase order for a quantity of Product that is not the applicable MOQ (or a multiple thereof), the Purchaser shall remain liable under Clause 18 (Write Offs)
for [***]; and 

  

	 	(B)	 specify the quantities of Product ordered (by SKU and by country), and required date for despatch to the Third
Party responsible for undertaking analytical testing of that Product, which shall be no less than the applicable Lead Time (as set forth on Schedule 1) from the date of the relevant purchase order. Unless expressly agreed otherwise between the
Parties or as otherwise set forth on Schedule 1, (i) no New Clinical Product or New Clinical Placebo shall have a Lead Time of less than [***] and (ii) no New Clinical API shall have a Lead Time of less than [***]. 

 

	9.4	 Purchase orders issued by the Purchaser under Clause 9.3 shall be delivered either electronically or by such
other means, and to such location or contact person or system, as GSK shall specify in writing. GSK or the Nominated Manufacturer shall respond to each such purchase order received from the Purchaser within [***] of receipt. Provided
that the quantity requirements for any purchase order comply with the restrictions set forth in Clause 9.3 and subject to Clause 9.5, GSK shall accept the purchase order (each such order then becoming a “Firm Order”) and its
response shall include confirmation of the quantity and the date for Delivery. 

  

	9.5	 In the event that discussion is required regarding the timing of Manufacture and Delivery of any Firm Order (or
any adjustment to the quantities set forth in the Firm Order), the relevant planning personnel from both Parties will use reasonable endeavours to agree and confirm any necessary changes to the Firm Order concerned and to the Forecast Schedule.
Notwithstanding the foregoing, GSK shall have no obligation to agree to any production schedule or Delivery timetable which would exceed GSK’s (or the Nominated Manufacturer’s) anticipated capacity or otherwise present an unreasonable
interference with GSK’s (or the Nominated Manufacturer’s) other operations, including any current operational processes (including shift patterns), or allocation of manufacturing capacity. 

 

	9.6	 GSK shall use Commercially Reasonable Efforts during Working Hours to satisfy any changes in quantity, Delivery
phasing or Delivery dates requested by the Purchaser in respect of a Firm Order or any additional order, provided that: 

  

	 	(A)	 the Purchaser shall [***] in the event it is able to meet such change; and 

 

	 	(B)	 without prejudice to Clause 9.6(A), if the Purchaser wishes to reduce the quantities of Product in any Firm
Order and GSK (or the Nominated Manufacturer) agrees to such reduction, the Purchaser shall in any event [***] 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
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 [***]. 
  

	9.7	 It is understood that without prejudice to Clause 18 (Write Offs), the remaining [***] of each Forecast
Schedule (i.e., the period after the Firm Zone) constitutes an estimate of the future Product requirement of the Purchaser and does not comprise a specific purchase requirement or a commitment by the Purchaser to purchase such Product (except as
otherwise provided in this Agreement). It is further understood that each such Forecast Schedule does not constitute a commitment by GSK to Manufacture or supply such Product. 

 

	9.8	 Each Party shall notify the other in writing with the name of a technical manager who will be responsible for
dealing with all day-to-day operational matters relevant to this Agreement. Unless otherwise agreed between the Parties, the technical managers and other appropriate
representatives from each Party shall endeavour to meet no less than once every Calendar Quarter to discuss the forecasts delivered by Purchaser pursuant to this Agreement and other matters relevant to the Manufacture and supply of Products under
this Agreement. The Purchaser shall provide to GSK at such meetings all readily available and appropriate data relating to the Products or the Purchaser’s prospective demands and trends for the Products. 

 

	9.9	 The provisions of this Clause 9 (Product Forecasts and Orders) are subject to the provisions of Clause
24 (Capacity Constraints) in the event that an Allocation is required to be made. 

  

	10.	 DELIVERY OF PRODUCT 

 

	10.1	 Subject to Clause 24 (Capacity Constraints), GSK (or the Nominated Supplier) shall Deliver the Products
on the date specified in the relevant Firm Order, provided that: 

  

	 	(A)	 the quantity of Product Delivered by GSK may vary by [***] from the quantity specified in the relevant Firm
Order; and 

  

	 	(B)	 the date of Delivery may vary by [***] from the date specified in the relevant Firm Order,

 and such variance shall not constitute a breach of this Agreement by GSK or entitle the Purchaser to reject such
Delivery. Delivery of New Clinical API, New Clinical Products and New Clinical Placebo shall take place following release by GSK of such Products in accordance with (and the extent required by) the Quality Agreement. 

 

	10.2	 In respect of Existing Clinical API and (if applicable) New Clinical API, the Parties may agree that some or
all of the quantities of such Existing Clinical API or New Clinical API Delivered pursuant to Clause 10.1 shall remain in the possession of GSK or its Affiliate on consignment. 

 

	10.3	 Subject to paragraph 2 of Schedule 3 (Toll Manufacturing Provisions), the risk in and title to the
Existing Clinical Products, Existing Clinical Placebo, New Clinical Products and New Clinical Placebo shall remain with GSK (or its Affiliate) until Delivered, at which point it shall pass to the Purchaser. Title to Existing Clinical API and New
Clinical API (if applicable) shall pass to the Purchaser when such Existing Clinical API or New Clinical API is purchased by Purchaser, but risk in such Existing Clinical API and New Clinical API shall remain with GSK in accordance with Clause 7.5
for so long as such Existing Clinical API or New Clinical API is in GSK’s possession as Purchaser Materials.  

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
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	10.4	 Other than in respect of Existing Clinical API or New Clinical API that the Parties agree shall be retained by
GSK on consignment, the Purchaser shall collect the Products Delivered from the Manufacturing Site on the date of Delivery, or such date as GSK, the Nominated Supplier or the Nominated Manufacturer may notify to the Purchaser from time to time.

  

	11.	 PRICE 

  

	11.1	 The Purchaser shall pay: 

 

	 	(A)	 the applicable Price (as determined in accordance with this Clause 11 (Price)) for Products supplied
under this Agreement; 

  

	 	(B)	 the fees in respect of Development Services supplied under this Agreement as set forth in (or determined in
accordance with) the applicable Scope of Work; 

  

	 	(C)	 the fees payable in respect of any Technology Transfer undertaken pursuant to this Agreement (except as
otherwise expressly set forth in this Agreement); and 

  

	 	(D)	 any Storage Fee and/or Safety Stock Fee payable pursuant to this Agreement. 

 

	11.2	 The Price and other fees payable pursuant to this Agreement shall be exclusive of Sales Tax imposed on or with
respect to such payments, which the Purchaser shall pay in addition to the Price or other fee upon presentation by GSK of a valid Sales Tax invoice. 

  

	11.3	 The Price for the Existing Clinical API, Existing Clinical Product, and Existing Clinical Placebo shall be that
specified in Schedule 1, which reflects GSK’s fully allocated CoGs of Manufacturing such Existing Clinical API, Existing Clinical Product, and Existing Clinical Placebo plus a margin (which is no greater than the margin applied for the
Manufacture of New Clinical API, New Clinical Products, and New Clinical Placebo). 

  

	11.4	 The Price for the New Clinical API shall be equal to the API Base Cost [***] and the Price for New Clinical
Products and New Clinical Placebo shall be equal to the Product Base Cost [***], as further detailed in Schedule 1. 

  

	11.5	 The CoGs and LAV on the basis of which the API Base Cost and Product Base Cost are respectively based shall be
reviewed annually and thereafter fixed on an annual basis for each Calendar Year. For the Calendar Year in which the Effective Date falls, the LAV, Product Base Cost and Price in respect of New Clinical Product and New Clinical Placebo shall be as
specified in Schedule 1. The Parties acknowledge and agree that no New Clinical API will be required to be Manufactured during such Calendar Year. 

  

	11.6	 At least [***] prior to the end of each Calendar Year, GSK shall notify the Purchaser of the Price for New
Clinical Product and New Clinical Placebo and the LAV and Base Product Cost on the basis of which such Price shall be calculated during the following Calendar Year. Insofar as the Manufacture of any New Clinical API is anticipated to be required
during such Calendar Year pursuant to Clause 2.2(A), the provisions of this Clause 11.6 shall apply mutatis mutandis in respect of such New Clinical API and the CoGs, API Base Cost and Price thereof. LAV (and, if applicable, CoGs) shall be
determined on the basis of the volumes of New Clinical Product and New Clinical Placebo (and, if applicable, New Clinical API) then forecast for the relevant Calendar Year. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 27 

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	11.7	 The Parties shall meet at least [***] before the end of each Calendar Year during the Term to discuss the LAV,
CoGs (if applicable), Base Product Cost, Base API Cost (if applicable) and Prices notified in respect of the following Calendar Year pursuant to Clause 11.6. The LAV for New Clinical Products and New Clinical Placebo (and, if applicable, the CoGs
for New Clinical API) for each subsequent Calendar Year shall be finalized by [***] of the then-current Calendar Year on the basis of the volume forecast supplied by the Purchaser for the subsequent Calendar Year. 

 

	11.8	 If the Purchaser disputes the LAV and/or CoGs notified pursuant to Clause 11.6 and such dispute cannot be
resolved through the discussions held pursuant to Clause 11.7, the Purchaser may, by notice in writing given not later than [***] of the then-current Calendar Year, require that an Independent Expert be permitted to verify the applicable CoGs and/or
LAV. If the Purchaser so requires, then: 

  

	 	(A)	 the Independent Expert shall not be permitted to disclose to the Purchaser any of the data relating to
GSK’s costs; 

  

	 	(B)	 if the Independent Expert determines that GSK has correctly determined the relevant CoGs or LAV, and has
determined such CoGs or LAV in a manner consistent with that used in determining the standard cost of other products manufactured for GSK, its Affiliates and Third Parties, the Prices notified by GSK shall apply and the Purchaser shall bear the fees
of such Independent Expert; and 

  

	 	(C)	 if the Independent Expert determines that GSK has not correctly determined the relevant CoGs or LAV, or has not
determined such CoGs or LAV in a manner consistent with that used in determining the standard cost of products manufactured for GSK, its Affiliates and Third Parties, the Independent Expert shall determine the applicable CoGs or LAV, the Prices in
respect of the relevant Calendar Year shall be determined on that basis and GSK shall bear the fees of the Independent Expert, 

provided that, for the avoidance of doubt, the Parties acknowledge that the prices actually charged to GSK, its Affiliates or Third
Parties in respect of other products may not be determined by reference to the standard cost of manufacturing such products in the same way as Prices are determined under this Agreement on the basis of CoGs and LAV and the assessment undertaken by
the Independent Expert shall not consider the manner in which such prices are determined (rather such Independent Expert will only consider the applicable standard cost of manufacturing for such products in its assessment). 

 

	11.9	 Pending a determination by an Independent Expert pursuant to Clause 11.8, the Price for the Products in the
subsequent Calendar Year shall be the same as that prevailing in the current Calendar Year, provided that: 

  

	 	(A)	 the Price in respect of New Clinical Product and New Clinical Placebo shall be adjusted at the start of the
subsequent Calendar Year by the Consumer Prices Index published by the [***] for the previous twelve (12) months; and 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 28 

 CONFIDENTIAL 
  

	 	(B)	 if applicable, the Price in respect of New Clinical API shall be adjusted at the start of the subsequent
Calendar Year by the Consumer Price Index published by the [***] for the previous twelve (12) months. 

  

	12.	 INVOICE AND PAYMENT 

 

	12.1	 GSK (or the Nominated Supplier) shall invoice the Purchaser upon each Delivery of Products or performance of
the Development Services. Each invoice shall specify, as applicable: 

  

	 	(A)	 the Price in respect of the Products Delivered or the Development Services performed (or the development work
undertaken pursuant to Clause 3.8 and the implementation of such development work); 

  

	 	(B)	 the quantity of Products Delivered; 

 

	 	(C)	 the amount of Sales Tax due in respect of the Products Delivered or Development Services performed (or the
development work undertaken pursuant to Clause 3.8 and the implementation of such development work); and 

  

	 	(D)	 any other fees payable or amounts reimbursable to GSK pursuant to this Agreement. 

 

	12.2	 Any amounts reimbursable to GSK pursuant to this Agreement other than the Price for Product Delivered or
Development Services performed and any associated Sales Tax may be invoiced separately from any invoice relating to the Price for Product Delivered or Development Services performed and any associated Sales Tax. 

 

	12.3	 The Purchaser shall pay the invoices issued by GSK or the Nominated Supplier in the Invoice Currency within
[***] from the date of receipt of the respective invoice by electronic transfer to the account nominated by GSK or the Nominated Supplier in writing. 

  

	12.4	 If Purchaser fails to make any payment pursuant to this Agreement when due, simple interest shall thereafter
accrue on the sum due to GSK (or the Nominated Supplier) until the date of payment at the per annum rate of [***] above the then-current prime rate reported in The Wall Street Journal or the maximum rate allowable by Applicable Laws, whichever is
the lower. 

  

	12.5	 All payments by the Purchaser under this Agreement shall be made without any deduction or withholding of any
monies, unless required by Applicable Law. In the event that monies are deducted or withheld, the Purchaser shall promptly pay the amount withheld to the appropriate Governmental Entity and shall provide GSK (or the Nominated Supplier) with the
original receipt issued by that Governmental Entity or other sufficient evidence of payment. To the extent that amounts are so withheld and paid to the proper taxing authority, such amounts shall be treated for all purposes of this Agreement as
having been paid to GSK (or the applicable Nominated Supplier) with respect to whom such amounts were withheld. Each Party agrees to cooperate with the other Party in claiming refunds or exemptions from such deductions or withholdings under any
relevant agreement or treaty which is in effect. The Parties shall discuss and cooperate regarding applicable mechanisms for minimizing such Taxes to the extent possible in compliance with applicable Law. In addition, the Parties shall cooperate in
accordance with applicable Law to minimize indirect Taxes (including Sales Tax) in connection with this Agreement. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 29 

 

 CONFIDENTIAL 
  

	13.	 ELECTRONIC SYSTEMS 

 

	13.1	 GSK hereby grants, or shall procure the grant of, a limited licence (being a royalty-free licence under the GSK
System IP, for the Term and revocable by GSK in the event of a breach by the Purchaser of the obligations set forth in this Clause 13 (Electronic Systems)) to use the GSK Group’s “Collaborate” information technology
system or such successor or alternative demand management software or system as the GSK Group may deploy (the “GSK System”). Such licence shall permit the Purchaser to use the GSK System only for the purposes of complying with its
obligations under this Agreement and meeting GSK’s requirements for demand planning, management and Delivery of Products. The use of such GSK System shall be subject to the following further conditions: 

 

	 	(A)	 other than the warranty set forth in Clause 27.1(B), GSK gives no representation or warranty as to the GSK
System, including that it shall be available at any time, or shall operate in error-free fashion, and the Purchaser agrees that any failure of such GSK System shall not limit or exclude any obligation or responsibility on the part of the Purchaser;

  

	 	(B)	 the Purchaser shall remain responsible for maintaining (i) such internet or telecommunications
connectivity and (ii) such minimum IT hardware requirements as may be necessary to enable the Purchaser to access such GSK System; and 

  

	 	(C)	 if the GSK Group provides the Purchaser with passwords or other access or authentication credentials, to use
the GSK System, the Purchaser shall provide those credentials only to named personnel (and shall communicate the names of such personnel to GSK and/or its Affiliate), and shall procure that the named personnel shall not share their credentials with
any other Purchaser personnel. 

  

	13.2	 The Purchaser shall take reasonable care to ensure that: 

 

	 	(A)	 nothing done by its employees shall contaminate, corrupt, impair or adversely affect any of the GSK
Group’s computers, computer software and computer data and, without prejudice to the generality of the foregoing, shall take due care to ensure that no invasive programs, “computer viruses” or “logic bombs” shall be
introduced to any of the GSK Group’s computers, computer software or data; and 

  

	 	(B)	 it operates reasonably up to date commercially available anti-virus software, including regularly updating the
virus signature files of such software (as recommended by the relevant licensor), and an electronic firewall and such other technical safeguards as good IT practice requires in relation to the Purchaser’s network or IT infrastructure (in each
case to the extent that such network or infrastructure may connect to the GSK System). 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 30 

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	14.	 QUALITY ASSURANCE 

 

	14.1	 GSK shall maintain such records as are necessary and appropriate to demonstrate compliance with cGMP in
connection with the supply of the Development Services and the Manufacture of the New Clinical API, New Clinical Products, and New Clinical Placebo. 

  

	14.2	 GSK shall be responsible for devising and implementing any corrective actions and/or preventative actions
(“CAPAs”) that may be required in connection with the Manufacture and technical release of Products, other than any CAPAs relating to analytical testing and release, which shall be the responsibility of the Purchaser.

  

	14.3	 The respective responsibilities of each Party in relation to technical and quality matters are further set
forth in the Quality Agreement. In the event of a conflict between the terms of the Quality Agreement and the terms of this Agreement, the terms of the Quality Agreement shall, to the extent of such conflict, prevail. 

 

	15.	 DEFECTIVE PRODUCTS 

 

	15.1	 The Purchaser shall notify GSK or the Nominated Supplier (or ensure that GSK or the Nominated Supplier is
notified) in writing within [***] of any Delivery of Products if the Delivery is incomplete in accordance with the terms of this Agreement (a “Rejection Notice”). GSK shall use its Commercially Reasonable Efforts to rectify the
incomplete delivery within [***] of receipt of the Rejection Notice. If no Rejection Notice is provided to GSK or the Nominated Supplier within [***] of the Delivery of Products, the Delivery shall be deemed complete. 

 

	15.2	 The Purchaser shall have the right to reject any allegedly Defective Products upon written notice to GSK, such
notice to include the reason(s) for the rejection and to be accompanied with any supporting documentation or other evidence, such right to be exercised within the period stipulated in the Quality Agreement (or, if no such period is stipulated,
within (i) [***] after the Delivery of Products or (ii) in the case of Latent Defects, [***] after discovery of the Latent Defect). Unless the Purchaser complies with the provisions of this Clause 15.2, the Delivery of Products shall be deemed
accepted by the Purchaser and the Purchaser shall have no right to reject the same. 

  

	15.3	 If the Purchaser purports to reject any Products pursuant to Clause 15.2: 

 

	 	(A)	 the Purchaser shall store the rejected Products in quarantine in accordance with GSK’s reasonable
instructions and shall allow GSK (or its nominated representatives) to inspect and/or analyse the same; 

  

	 	(B)	 the Parties shall use reasonable endeavours to agree whether or not the rejected Products are Defective; and

  

	 	(C)	 if, within [***] of GSK or the Nominated Supplier being notified pursuant to Clause 15.2, the Parties fail to
agree whether or not the rejected Products are Defective, the dispute shall be referred to and determined by an Independent Expert whose decision shall be final and binding on the Parties. The Independent Expert shall act as an expert and not as an
arbitrator and (unless the Independent Expert otherwise determines) his or her fees shall be paid by the Party against whom the Independent Expert’s decision is given. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 31 

 CONFIDENTIAL 
  

	15.4	 If the Parties agree, or if the Independent Expert finds, that any Products are Defective and have been
properly rejected, GSK shall, at its option, either replace the Defective Products or refund to the Purchaser the Price paid for such Defective Products. In addition, GSK shall, at its option, either collect at its own expense the Defective Products
from the Purchaser or reimburse the Purchaser for any reasonable costs incurred in its disposal of the Defective Products. Subject to Clause 28 (Indemnities) and Clause 29 (Liability), the remedy set forth in this Clause 15.4, together
with any additional remedy set forth in Clause 20.3 (if applicable), shall be the Purchaser’s sole and complete remedy under this Agreement with respect to any Defective Products properly rejected by the Purchaser in accordance with Clause
15.2. 

  

	15.5	 If any rejected Products are found by the Independent Expert not to be Defective, the Purchaser shall pay for
such Products in accordance with the payment provisions set forth in this Agreement. 

  

	16.	 PRODUCT LICENCE 

 

	16.1	 The Purchaser shall (or shall procure that its Affiliate shall), at its own expense, obtain and maintain all
Product Licences in the Territory which may from time to time be required by any Regulatory Authority or other Governmental Entity. The Purchaser shall be responsible for responding to all requests for information related to such Product Licences
made by, and for making all legally required filings relating to such Product Licences with, any Regulatory Authority or other Governmental Entity having jurisdiction to make such requests or require such filings. 

 

	16.2	 Without prejudice to the Purchaser’s obligations under Clause 16.1, if any Product Licence relating
directly to any of the Products is suspended or revoked after the Effective Date, the Purchaser shall promptly notify GSK (and, if applicable, each of the Nominated Manufacturer and the Nominated Supplier) of the event and shall promptly inform GSK
of the anticipated impact on the Purchaser’s purchases of the affected Product and the Purchaser’s general intentions with respect to the affected Product. 

 

	17.	 PRODUCT SPECIFICATIONS 

 

	17.1	 Subject to the provisions of Clause 2 (GSK’s Obligations) and unless otherwise required to do so by
a Governmental Entity, GSK shall not without the prior written consent of the Purchaser, make any change to the Specifications that might reasonably be expected to impact the Product Licence. 

 

	17.2	 Each application by GSK for any consent pursuant to Clause 17.1 shall be submitted in writing and assessed by
the Purchaser in accordance with the Technical Change Procedure. Any agreed change made under this Clause 17.2 shall be implemented at GSK’s cost. 

  

	17.3	 The Purchaser shall bear the costs of any change to the Specifications or the Manufacturing process required by
Applicable Law or a Governmental Entity (including the cost of any write-off in accordance with Clause 18 (Write Offs) and/or any related development work in accordance with Clause 3 (Development
Services)). Notwithstanding the foregoing, if a required change to the Specifications or any Manufacturing process is such that GSK cannot reasonably implement the change without significant interference with its other operations at the
Manufacturing Site, the provisions of Clause 31.2 shall apply. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 32 

 CONFIDENTIAL 
  

	17.4	 Prior to implementation of any change referred to in this Clause 17 (Product Specifications), the
Parties shall agree on a procedure to ensure that the change is approved by the relevant Governmental Entity, and that GSK is given a reasonable period of time to implement any changes which such Governmental Entity may approve.

  

	18.	 WRITE OFFS 

  

	18.1	 Where: 

  

	 	(A)	 the Purchaser submits a purchase order for a quantity of Product other than the MOQ (or a multiple thereof) and
GSK agrees to Deliver such quantity; 

  

	 	(B)	 any changes to the Manufacture of the Products and/or Specification are implemented pursuant to a request of
any Regulatory Authority or pursuant to Applicable Law; provided that the foregoing shall be limited to Product deliverable [***]; 

  

	 	(C)	 GSK or the Nominated Manufacturer agrees to any changes requested by the Purchaser in accordance with this
Agreement; or 

  

	 	(D)	 solely in relation to long-lead time Materials and safety stock of Materials held pursuant to Clause 6.3, the
quantity requirement for a Product shown for any month in any Forecast Schedule varies from the quantity requirements forecast for that month in any previous Forecast Schedule, [***], the provisions of Clause 18.2 shall apply. 

 

	18.2	 Where this Clause 18.2 applies, the Purchaser shall reimburse to GSK or the Nominated Manufacturer the cost of write-off (calculated in accordance with IFRS) of: 

  

	 	(A)	 Materials reasonably purchased or ordered by GSK or the Nominated Manufacturer in view of quantities indicated
in any Forecast Schedule and the terms agreed with the supplier of such Materials, including any applicable minimum order quantity and/or lead times (which may exceed the Firm Zone); 

 

	 	(B)	 Purchaser Materials reasonably purchased or ordered by GSK or the Nominated Manufacturer in view of quantities
indicated in any Forecast Schedule; 

  

	 	(C)	 safety stock quantities of Materials as required pursuant to Clause 6.3; and 

 

	 	(D)	 work-in-progress and/or
Products Manufactured in light of the quantity requirements shown in the Forecast Schedule (taking due account of the applicable Lead Time), 

to the extent that such Materials, Purchaser Materials,
work-in-progress and/or Products will not be used: 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 33 

 CONFIDENTIAL 
  

	 	(i)	 in the Manufacture of Products to meet Firm Orders (or in the case of certain Materials with long lead times
and/or safety stock of Materials held pursuant to Clause 6.3, prior to the Firm Zone); or 

  

	 	(ii)	 in the case of Materials not used by GSK or the Nominated Manufacturer at the Manufacturing Site exclusively in
the Manufacture of Products, in the manufacture at the relevant Manufacturing Site of other products for GSK, its Affiliates or Third Parties, 

in each case within the shelf-life of such Materials, Purchaser Materials,
work-in-progress or Products, whether as a result of expiry of the Term, termination of this Agreement or otherwise. GSK shall provide the Purchaser with the cost of
long-lead time Materials and the associated lead times provided by GSK’s supplier. Each of GSK and the Nominated Manufacturer at the Manufacturing Site will use Commercially Reasonable Efforts to use Materials that are not used exclusively in
the Manufacture of Products in the manufacture at the relevant Manufacturing Site of other products for GSK, its Affiliates or Third Parties. To the extent that neither GSK nor the Nominated Manufacturer at the Manufacturing Site will be able to use
Materials that are not used exclusively in the Manufacture of Products, then, at the election of Purchaser, GSK will (in connection with the write off of such Materials pursuant to this Clause 18.2) allow the Purchaser to collect any such Materials
or ship any such Materials to Purchaser (in each case, at Purchaser’s cost). 
  

	18.3	 For the avoidance of doubt, it is acknowledged that Purchaser Materials are held by GSK or the Nominated
Manufacturer on a [***] basis and, accordingly, the cost to GSK or the Nominated Manufacturer of writing off Purchaser Materials will not exceed the cost (if any) incurred by GSK of the Nominated Manufacturer in destroying or otherwise disposing of
such Purchaser Materials or in storing such Purchaser Materials pending collection by, or shipment to, the Purchaser (or its designee) from the Manufacturing Site. 

 

	19.	 REGULATORY COMPLIANCE 

 

	19.1	 GSK or the Nominated Manufacturer shall: 

 

	 	(A)	 provide to the Purchaser all such documents and information available to GSK or the Nominated Manufacturer as
may be required by a Regulatory Authority from the Purchaser with respect to the Manufacture of the Product; and 

  

	 	(B)	 allow such inspections of the Manufacturing Site as may be requested by such Regulator. 

Upon request by the Purchaser, GSK shall notify the Purchaser in writing of the findings of such inspections insofar as they affect the
Products or their Manufacture. 
  

	19.2	 At the time that any Existing Clinical API, Existing Clinical Products, or Existing Clinical Placebo are
Delivered to the Purchaser, GSK (or the Nominated Manufacturer) shall supply a completed copy of the Certificate of Analysis, duly signed or released by a Qualified Person (or a Person designated by the Qualified Person to sign or release such
document) in accordance with cGMP, that sets forth the analytical test results for each specified lot of Existing Clinical API, Existing Clinical Products, or Existing Clinical Placebo Delivered to the Purchaser and confirms that such Products have
been manufactured in accordance with the Specifications. At the time 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 34 

 CONFIDENTIAL 
  

	 	
that any New Clinical API, New Clinical Products, or New Clinical Placebo are Delivered to the Purchaser, GSK (or the Nominated Manufacturer) shall perform batch investigations (if applicable), a
technical release and quality assurance approval for the purposes of Purchaser’s Qualified Person signing a Certificate of Analysis in respect of such New Clinical API, New Clinical Products, or New Clinical Placebo. The Purchaser will assume
management of all CMO agreements related to analytical testing and release and shall be responsible for batch investigations (if applicable) relating to analytical testing and release. 

 

	19.3	 Each Party shall maintain in accordance with and for the period required under cGMP and Applicable Law all such
records relating to the Manufacture and distribution of the Products as it may be required to hold under such Applicable Law. 

  

	20.	 PRODUCT EVENTS 

 

	20.1	 Any and all complaints of which GSK becomes aware relating to the quality or efficacy any Product shall
promptly be forwarded to the Purchaser’s senior quality officer or that person’s designee. The Purchaser shall promptly inform GSK and/or the Nominated Manufacturer of any and all complaints that the Purchaser receives which may relate to
manufacturing or other processes at the Manufacturing Site. Notification shall be given by telephone, with a written confirmation immediately following. 

  

	20.2	 In the event that a Regulatory Authority requires, or the Purchaser decides to initiate, a recall, withdrawal
or field correction (each, a “Product Event”) with respect to any Product Manufactured and supplied under this Agreement, the Purchaser shall immediately notify GSK and each Party shall fully cooperate with the other Party to
implement the same. 

  

	20.3	 If (and only if and to the extent that) the Product Event is: 

 

	 	(A)	 required by Applicable Law or customary industry practice; and 

 

	 	(B)	 necessitated by a failure on the part of GSK to comply with all its obligations under this Agreement,

 GSK shall: 
  

	 	(i)	 replace the Product recalled; or 

 

	 	(ii)	 (at the Purchaser’s election or where it is not reasonably practicable for GSK to replace the Product)
refund the Purchaser for the recalled Product; and 

  

	 	(iii)	 within [***] of receipt of an invoice for the same, reimburse the Purchaser for its reasonable out of pocket
expenses incurred in carrying out the Product Event, provided that: 

  

	 	(a)	 such expenses are evidenced in writing; and 

 

	 	(b)	 GSK shall not be liable for any costs or expenses arising to the extent of attributable to the acts or
omissions of the Purchaser, its Affiliates or its or their distributors, wholesalers or other customers. Subject to Clause 28 (Indemnities) and Clause 29 (Liability), the remedy set forth in this Clause 20.3 shall be the
Purchaser’s sole and complete remedy under this Agreement with respect to any Product Event. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 35 

 CONFIDENTIAL 
  

	20.4	 Subject to Clause 20.3, [***] relating to a Product Event shall be borne by the Purchaser. The Purchaser shall
reimburse to GSK all costs and expenses incurred by GSK and its Affiliates in respect of a Product Event within [***] of receipt of an invoice for the same. 

  

	20.5	 In the event of a dispute between the Parties in relation to the allocation of costs between the Parties in
relation to a Product Event in accordance with this Clause 20 (Product Events), the matter shall be determined by an Independent Expert and the decision of the Independent Expert shall be final and binding on the Parties. The Independent
Expert shall act as an expert and not as an arbitrator and (unless the Independent Expert otherwise determines) its fees shall be borne between the Parties in the same proportion as the costs of the Product Event are allocated between them by the
Independent Expert. 

  

	21.	 PHARMACOVIGILANCE 

 

	21.1	 If a Party becomes aware of any action that may be or will be taken or required by any Regulatory Authority for
safety reasons connected with any product containing the same active substance as the Product, it shall immediately, and in any event not later than [***] after so becoming aware, notify the other Party’s senior quality officer in writing and
provide all available relevant details. 

  

	21.2	 Without prejudice to Clause 21.1, GSK shall notify the Purchaser promptly following its receipt of information
of a possible Adverse Event with respect to any Product. To the extent an Adverse Event of which the Purchaser becomes aware may relate to manufacturing or other processes at the Manufacturing Site, the Purchaser shall inform GSK of such Adverse
Event and shall disclose to GSK any information it has regarding that Adverse Event. 

  

	21.3	 Upon receipt of notification of a Product complaint and/or Adverse Event in respect of any of the Products, GSK
will conduct an internal investigation to determine the validity of such complaint. The findings of such investigation shall be reported in writing to the Purchaser. 

 

	22.	 CONFIDENTIALITY 

 

	22.1	 All Confidential Information disclosed by a Party (together with its Affiliates, the “Disclosing
Party”) to the other Party (together with its Affiliates, the “Receiving Party”) shall be used by the Receiving Party solely in connection with the activities contemplated by this Agreement, shall be maintained in
confidence by the Receiving Party, and shall not otherwise be disclosed by the Receiving Party to any other Person, firm or agency, governmental or private (other than a Party’s Affiliates), without the prior written consent of the Disclosing
Party. 

  

	22.2	 The Receiving Party may disclose Confidential Information to (a) its Affiliates, directors, officers,
employees, consultants, attorneys, vendors, suppliers, contractors, collaborators and advisors (“Personnel”) who have a need to know for the Development, Manufacture, and Commercialisation of Products in accordance with this
Agreement, prosecution and maintenance of any Patent or to enforce or exercise rights under this Agreement, including in connection with Regulatory Approval Applications and obtaining Regulatory Approvals or (b) to 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 36 

 CONFIDENTIAL 
  

 actual or potential investors, acquirers, permitted licensees/sublicensees and other financial or commercial
partners who need to know such Confidential Information in connection with their evaluating or carrying out an actual or potential investment, acquisition, collaboration, public offering, merger or other similar transaction, in each case relating to
the Transferred Assets (“Authorised Third Parties”), provided that each of GSK and the Purchaser shall: 
  

	 	(A)	 procure that its Personnel and Authorised Third Parties shall be bound by confidentiality obligations at least
as strict as this Clause 22 (Confidentiality) (except, in respect of Confidential Information that is not Know-How or Intellectual Property, to the extent that a shorter confidentiality period is
customary in the industry); and 

  

	 	(B)	 each remain liable for the compliance of its Personnel or Authorised Third Parties with the obligations of
confidentiality set out in this Clause 22 (Confidentiality). 

  

	22.3	 The obligations of confidentiality set forth in Clauses 22.1 and 22.2 shall not extend to any information which
(as evidenced by competent documentation): 

  

	 	(A)	 was known or used by the Receiving Party prior to its date of disclosure to the Receiving Party;

  

	 	(B)	 either before or after the date of the disclosure to the Receiving Party, is lawfully disclosed to the
Receiving Party by sources (other than the Disclosing Party) not known by the Receiving Party to be subject to a duty of confidentiality to the Disclosing Party with respect to such Confidential Information; 

 

	 	(C)	 either before or after the date of the disclosure to the Receiving Party, becomes published or generally known
to the public (including information known to the public through the sale of products in the ordinary course of business) through no fault or omission on the part of the Receiving Party or its Affiliates; or 

 

	 	(D)	 is independently developed by or for the Receiving Party without reference to or reliance upon the Confidential
Information. 

  

	22.4	 Subject to Clause 22.3, the obligations of confidentiality set forth in Clauses 22.1 and 22.2 shall expire

  

	 	(A)	 in respect of Confidential Information that is Know-How or Intellectual
Property, when such Know-How or Intellectual Property ceases to be confidential; and 

  

	 	(B)	 in respect of other Confidential Information, [***] after the expiry or termination of this Agreement.

  

	22.5	 Clauses 22.1 and 22.2 shall not preclude the Receiving Party from disclosing Confidential Information to the
extent the Receiving Party reasonably concludes, after consultation with counsel, that the disclosure of such Confidential Information is necessary (a) to comply with Applicable Laws or any Order, including complying with the Securities Act of
1933, as amended, the Securities Exchange Act of 1934, as amended, the rules and regulations of the U.K. Financial Conduct Authority or other applicable securities Laws, (b) to defend or prosecute litigation or to comply with governmental
regulations, (c) in connection with the filing of 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 37 

 CONFIDENTIAL 
  

	 	
documentation in order to obtain or maintain Regulatory Approvals or (d) in connection with any filing with a Governmental Entity with respect to a Patent; provided that, unless
prohibited by Applicable Laws or any Order, the Receiving Party provides prior written notice of such disclosure to the Disclosing Party and takes reasonable and lawful actions to avoid and/or minimize the degree of such disclosure.

  

	22.6	 Subject to Clauses 22.3, and save to the extent necessary to comply with any continuing obligations under this
Agreement or Applicable Law, the Receiving Party shall, upon expiry or termination of this Agreement and at the other Party’s request, return or destroy all of the Disclosing Party’s Confidential Information which it has in its possession
or under its control, provided that: 

  

	 	(A)	 the Receiving Party may retain one confidential copy in the Receiving Party’s confidential files solely
for purposes of monitoring compliance with the terms of this Clause 22 (Confidentiality); and 

  

	 	(B)	 nothing in this Clause 22.6 shall require the Receiving Party or its Personnel to delete or otherwise destroy
any copies of the Disclosing Party’s Confidential Information that is stored in electronic form in back-up archives of its information technology systems that are not accessible to such Personnel in the
ordinary course of business. 

  

	22.7	 For clarity, the provisions of this Clause 22 (Confidentiality) shall not prejudice the rights or
obligations of either Party (or their respective Affiliates) under the Purchase Agreement. 

  

	23.	 FORCE MAJEURE 

 

	23.1	 If any Force Majeure Event occurs in relation to either Party which affects or may affect the performance of
any of its obligations under this Agreement, it shall notify the other Party as soon as practicable as to the nature and extent of the circumstances in question. 

 

	23.2	 The Affected Party shall not be deemed to be in breach of this Agreement, and shall not otherwise be liable to
the other Party, by reason of any delay in performance, or the nonperformance of any of its obligations under this Agreement, to the extent that the delay or nonperformance is due to any Force Majeure Event, and the time for performance of that
obligation shall be extended accordingly. 

  

	23.3	 If the performance by the Affected Party of any of its obligations under this Agreement is prevented or delayed
by a Force Majeure Event for a continuous period in excess of [***], the Parties shall enter into bona fide discussions with a view to alleviating its effects, or to agreeing upon such alternative arrangements as may be fair and reasonable in the
circumstances. 

  

	23.4	 If the Affected Party is prevented or delayed from performance of any of its obligations under this Agreement
by a Force Majeure Event for [***] or more, the other Party shall in its discretion have the right to terminate this Agreement with immediate effect by giving written notice to the Affected Party. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 38 

 CONFIDENTIAL 
  

	24.	 CAPACITY CONSTRAINTS 

 

	24.1	 If GSK or the Nominated Manufacturer is unable to Manufacture the quantities of Products forecasted or ordered
by the Purchaser due to: 

  

	 	(A)	 shortages of Materials that are used both in the Manufacture of Products and in the manufacture of products for
the GSK Group or its Third Party customers; or 

  

	 	(B)	 constraints on the capacity at: 

 

	 	(i)	 the Manufacturing Site; or 

 

	 	(ii)	 any manufacturing site operated by the GSK Group at which any Materials are manufactured,

 (the “Affected Site”), in each case including as a result of any repair or remediation
being required in respect of the Affected Site or any equipment at the Affected Site that is used in the Manufacture of Products or Materials (as applicable), then, without prejudice to Clause 23 (Force Majeure), Clauses 24.2 and 24.3 shall
apply. 
  

	24.2	 In the circumstances contemplated by Clause 24.1, GSK shall (or shall procure that its Affiliate shall)
allocate the available Materials, or available capacity at the Affected Site, between: 

  

	 	(A)	 the Products; 

  

	 	(B)	 products manufactured by the GSK Group for Commercialisation by the GSK Group that rely on the same Materials
or Affected Site; and 

  

	 	(C)	 products manufactured by the GSK Group for Commercialisation by its Third Party customers that rely on the same
Materials or Affected Site, 

 (collectively, the “Affected Products”) in a fair and reasonable manner as
if all Affected Products were to be Commercialised by and for the sole benefit of the GSK Group, taking account of all relevant factors, including the indications of each Affected Product, the risk and likely duration of any stock out of each
Affected Product, the availability in the relevant jurisdiction of alternatives to each Affected Product and whether or not each Affected Product is medically critical (the “Allocation”). 

 

	24.3	 In the circumstances contemplated by Clause 24.1: 

 

	 	(A)	 the Purchaser shall, on request, provide GSK or its Affiliate with such information as GSK or its Affiliate may
reasonably require in order to determine the Allocation in accordance with Clause 24.2; 

  

	 	(B)	 notwithstanding anything to the contrary in Clause 9 (Product Forecasts and Orders), each Firm Order
shall be deemed to be revised (as to quantities of Products and/or Delivery dates, as applicable) to the extent necessary to accord with the Allocation (and the Purchaser shall be deemed to agree with such revision); and 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 39 

 CONFIDENTIAL 
  

	 	(C)	 for the purposes of Clause 10 (Delivery of Product), the due date for Delivery in respect of any Firm
Order shall reflect any revision to the such Firm Order made pursuant to this Clause 24.3. 

  

	24.4	 Following any Allocation, the Parties shall, at the Purchaser’s request,
co-operate in good faith (each acting reasonably) to devise a plan for the re-supply of Products in greater quantities than contemplated by the then-current Forecast
Schedule once the circumstances giving rise to the Allocation cease to apply (and, notwithstanding anything to the contrary in Clause 9 (Product Forecasts and Orders), future Forecast Schedules may be revised to accord with such agreed plan).

  

	25.	 AUDIT AND INSPECTION RIGHTS 

 

	25.1	 Subject to Clauses 25.2 to 25.5, the Purchaser shall have the right, not more than [***] (other than “for
cause”), to audit and inspect (i) those parts of the Manufacturing Site and related plant and machinery used for the Manufacture of Products for the Purchaser under this Agreement, (ii) GSK’s systems used for quality assurance in
respect of Third Party suppliers of Materials, and (iii) subject to any obligations of confidentiality GSK may have to a Third Party supplier of Materials, the results of any quality assurance audits conducted by GSK of any such Third Party
supplier, provided that: 

  

	 	(A)	 GSK shall, upon the Purchaser’s reasonable request, use Commercially Reasonable Efforts to obtain the
consent of any such Third Party supplier to enable the results of a relevant quality assurance audit conducted by GSK to be provided in accordance with this Clause 25.1; and 

 

	 	(B)	 GSK may redact, and shall not be required to disclose to the Purchaser, any results of any quality assurance
audit conducted by GSK of a Third Party supplier of Materials to the extent that such results do not relate to the Materials used in the Manufacture of Products. 

 

	25.2	 The Purchaser shall give GSK and/or the Nominated Manufacturer not less than [***] prior written notice of any
inspection proposed to be undertaken pursuant to Clause 25.1 and each such inspection shall occur during Working Hours at the Manufacturing Site. 

  

	25.3	 The Purchaser’s audit and inspection rights under this Clause 25 (Audit and Inspection Rights)
shall not extend to any parts of the Manufacturing Site, or any documents, records or other information, which do not relate to the Manufacture of Products for the Purchaser under this Agreement. GSK shall be entitled to redact information relating
to any other product, materials, plant, equipment or premises from any documentation made available to the Purchaser pursuant to this Clause 25 (Audit and Inspection Rights). 

 

	25.4	 Subject to Clause 25.5, the Purchaser’s audit shall be conducted by one team only and shall not last more
than [***]. 

  

	25.5	 In the Contract Year commencing on the Effective Date, the Purchaser shall: 

 

	 	(A)	 be permitted to undertake its audit pursuant to Clause 25.1 within [***] after the Effective Date; and

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 40 

 CONFIDENTIAL 
  

	 	(B)	 if Purchaser has been unable to secure the attendance of its designated Qualified Person at its scheduled audit
(having used its best efforts to do so), be entitled to have such Qualified Person undertake a separate audit during such Contract Year. 

  

	26.	 NO COMMERCIALISATION OF PRODUCT; ADDITIONAL AGREEMENTS 

 

	26.1	 The Parties acknowledge that this Agreement relates to the Manufacture and clinical supply of products and
provision of certain Development Services in respect to clinical supply and is not intended to govern the commercial Manufacture and commercial supply of any products. To the extent that any Product (or work in progress) is supplied to the Purchaser
or its Affiliates under this Agreement, neither the Purchaser nor its Affiliates shall Commercialise any such Product, or otherwise permit any such Product to be put on the market anywhere in the world. 

 

	26.2	 The Parties acknowledge that certain products and services are outside the scope of this Agreement and would be
subject to other agreements to be negotiated in good faith between the Parties, including: 

  

	 	(A)	 [***] 

  

	 	(B)	 [***] 

  

	 	(C)	 [***] 

  

	27.	 WARRANTIES 

  

	27.1	 GSK warrants that: 

  

	 	(A)	 it has full capacity and authority to enter into this Agreement and to perform its obligations under this
Agreement; 

  

	 	(B)	 it has the title and/or right to grant the Purchaser the right to use the GSK System IP in accordance with the
terms of this Agreement; 

  

	 	(C)	 the use of GSK Background IP in the performance of the Development Services does not infringe the Intellectual
Property of any Third Party; and 

  

	 	(D)	 during the Term of this Agreement, 

 

	 	(i)	 the Products will be Manufactured in accordance with cGMP and Applicable Laws and will on Delivery comply with
the Specifications; 

  

	 	(ii)	 GSK shall at all times maintain necessary licences, certifications and approvals for the Manufacturing of the
New Clinical API, New Clinical Products, and New Clinical Placebo at the Manufacturing Site; and 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 41 

 CONFIDENTIAL 
  

	 	(iii)	 GSK shall maintain the Manufacturing Site and its records and personnel in accordance with cGMP.

  

	27.2	 The Purchaser warrants that: 

 

	 	(A)	 it has full capacity and authority to enter into this Agreement and to perform its obligations under this
Agreement; 

  

	 	(B)	 it has the title and/or right to grant GSK the right to use the Purchaser Intellectual Property in accordance
with the terms of this Agreement; 

  

	 	(C)	 the use by GSK or the Nominated Manufacturer of the Purchaser Intellectual Property for the purposes of this
Agreement will not infringe the Intellectual Property of any Third Party; provided that the Purchaser makes no representation regarding the Transferred IP; 

 

	 	(D)	 it holds (and will throughout the Term continue to hold) all necessary Consents to perform its obligations as
contemplated by this Agreement and: 

  

	 	(i)	 it has paid (and will throughout the Term continue to pay) all fees due in relation to such Consents;

  

	 	(ii)	 it is not (and will not during the Term be) in breach of any conditions under any such Consents where such
breach would be likely to have an adverse effect on the Purchaser’s ability to perform its obligations under this Agreement; and 

  

	 	(E)	 during the Term of this Agreement, it will perform its obligations under this Agreement in compliance with
Applicable Laws. 

  

	27.3	 Except as expressly stated in this Agreement, all warranties, representations and conditions whether express or
implied by statute, common law or otherwise (including, without limitation, any implied warranties of quality or fitness for purpose) are excluded to the extent permitted by Applicable Law. 

 

	28.	 INDEMNITIES 

  

	28.1	 Subject to Clause 29 (Liability), GSK shall indemnify the Purchaser, the Purchaser’s Affiliates and
its or their respective employees, officers and directors (each a “Purchaser Indemnitee”), and keep them indemnified, on demand, from and against any and all Losses that any of them may suffer or incur arising out of or in
connection with any Third Party Claim for any: 

  

	 	(A)	 personal injury, illness or death; or (B) damage to Third Party property, arising as a direct result of a
breach of GSK’s warranty at Clause 27.1(D). 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 42 

 CONFIDENTIAL 
  

	28.2	 Subject to Clause 29 (Liability), the Purchaser shall indemnify GSK, GSK’s Affiliates and its or
their respective employees, officers and directors (each a “GSK Indemnitee”), and keep them indemnified, on demand, from and against any and all Losses that any of them may suffer or incur arising out of or in connection with any
Third Party Claim for any: 

  

	 	(A)	 personal injury, illness or death; or 

 

	 	(B)	 damage to Third Party property, 

arising from the use, storage, or Development of Products by the Purchaser, its Affiliates, agents or
sub-licensees. This indemnity shall not apply to the extent that a claim under it results from GSK’s failure to Manufacture and/or supply Products in accordance with this Agreement. 

 

	28.3	 Subject to Clause 29 (Liability), the Purchaser shall indemnify the GSK Indemnitees, and keep them
indemnified, on demand, from and against any and all Losses that any of them may suffer or incur arising out of or in connection with any Third Party Claim that any use of the Purchaser Intellectual Property infringes the Intellectual Property of a
Third Party (other than with respect to Transferred IP). 

  

	28.4	 The procedure for claiming under any indemnity under this Agreement shall be as follows: 

 

	 	(A)	 if any Person (the “Indemnified Party”) receives a claim or demand in respect of a matter
which is the subject of an indemnity in its favour under this Agreement (a “Claim”) it shall give promptly the Party obliged to indemnify it (the “Indemnifying Party”) a notice describing in reasonable detail the
facts giving rise to the claim for indemnification hereunder, (if then known) the amount or the method of computation of the amount of such claim, and a reference to the provision of this Agreement upon which such claim is based;

  

	 	(B)	 the Indemnifying Party shall have the sole and absolute right to undertake the defence, negotiation, or
settlement of any such Claim with legal counsel of its choice. The Indemnified Party shall cooperate in such defence, negotiation, or settlement and, at its expense, shall make available all records, materials and witnesses reasonably requested by
the Indemnifying Party in connection with such Claim; and  

  

	 	(C)	 if the Indemnifying Party assumes the defence of a Claim: 

 

	 	(i)	 the Indemnifying Party shall not be liable to the Indemnified Party for any legal or other expenses
subsequently incurred by the Indemnified Party in connection with the defence of such Claim; 

  

	 	(ii)	 the Indemnifying Party shall keep the Indemnified Party informed of, and shall from time to time consult with
the Indemnified Party regarding the status of, any Proceedings and shall provide to the Indemnified Party copies of all documents filed in, and written communications relating to, any such Proceedings, provided that the Indemnifying Party
shall not be obliged to do anything that it has been advised by external counsel would amount to a waiver of legal privilege in any information; 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 43 

 CONFIDENTIAL 
  

	 	(iii)	 the Indemnifying Party shall obtain the written consent of the Indemnified Party (such consent not to be
unreasonably withheld) prior to ceasing to defend, 

  

	 	settling	 or otherwise disposing of any Claim if, as a result thereof, the Indemnified Party: 

 

	 	(a)	 would become subject to injunctive or other equitable relief; or 

 

	 	(b)	 may reasonably object to such disposition of such Claim based on a material adverse effect on the Indemnified
Party (including any anticipated adverse effect on the Indemnified Party’s goodwill or reputation); and 

  

	 	(iv)	 the Indemnifying Party shall not be liable for any Claim settled by the Indemnified Party without its consent.

  

	28.5	 For clarity, the provisions of this Clause 28 (Indemnities) shall not prejudice the rights or
obligations of either Party (or their respective Affiliates) under the Purchase Agreement, provided that no Party (together with its Affiliates) shall be entitled to recover any sum by way of damages or other compensation under this Agreement
in respect of Losses for which it has been compensated under the Purchase Agreement (and vice versa). 

  

	29.	 LIABILITY 

  

	29.1	 Notwithstanding any other provision of this Agreement, nothing in this Agreement shall exclude or limit either
Party’s liability to the extent the same may not be excluded or limited as a matter of law, including (to such extent) liability for [***]. 

  

	29.2	 Subject to Clause 29.1, neither Party shall be liable to the other under or in relation to this Agreement
(including, for the avoidance of doubt, under or in relation to any indemnity given in this Agreement), whether arising in contract, tort, negligence, breach of statutory duty or otherwise, for any: 

 

	 	(A)	 loss of profits; 

  

	 	(B)	 loss of revenue; 

  

	 	(C)	 loss of savings or anticipated savings; 

 

	 	(D)	 loss of business or business opportunities; 

 

	 	(E)	 loss of or damage to goodwill; 

 

	 	(F)	 any indirect or consequential loss or damage; or 

 

	 	(G)	 any punitive or exemplary damages, 

in each case, whether or not the possibility of such loss or damage could have been reasonably foreseen and whether or not actually
contemplated by the Parties. 
  

	29.3	 Subject to Clauses 29.1, 29.2 and 29.4, GSK’s total liability in respect of this Agreement (including, for
the avoidance of doubt, under or in relation to any indemnity given in this Agreement), whether arising in contract, tort, negligence, breach of statutory duty or otherwise, shall be limited in aggregate over the Term of this Agreement to [***] of
sales, at the Price, of Products supplied to the Purchaser under this Agreement during the Term, provided that, such limitation on GSK’s total liability shall not apply if GSK’s liability arises from [***]. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 44 

 CONFIDENTIAL 
  

	29.4	 Subject to Clause 29.1, GSK shall further not be liable for any Losses suffered or incurred by Purchaser,
Purchaser’s Affiliates or any of its or their respective employees, officers or directors, to the extent that such Losses arise from: 

  

	 	(A)	 the use by GSK and/or the Nominated Manufacturer of the Purchaser Intellectual Property for the purposes of
this Agreement (without prejudice to any liability that GSK or its Affiliate may have under the Purchase Agreement in respect of Transferred IP); 

  

	 	(B)	 the implementation of, and compliance with, Specifications and Manufacturing instructions provided by the
Purchaser to GSK (provided that GSK has complied with such Specifications and Manufacturing instructions); 

  

	 	(C)	 any failure by the Purchaser to comply with its obligations under this Agreement; 

 

	 	(D)	 any Commercialisation of the Product; 

 

	 	(E)	 any other use of the Products outside of the Territory; 

 

	 	(F)	 the late Delivery of any Products to the extent that such late Delivery was due to any failure by the Purchaser
to comply with this Agreement; or 

  

	 	(G)	 the negligence or wilful misconduct of the Purchaser or its Personnel. 

 

	30.	 TECHNOLOGY TRANSFER 

 

	30.1	 If: 

  

	 	(A)	 GSK will not be supplying Products for Commercialisation pursuant to the Commercial Manufacturing and Supply
Agreement; or 

  

	 	(B)	 Clause 30.3 applies; or 

 

	 	(C)	 Clause 31.6 applies; or 

 

	 	(D)	 Clause 36.2(ii) applies, 

GSK shall facilitate a one-time technology transfer to the Purchaser (or Purchaser’s designee)
(the “Technology Transfer”). The Parties shall use Commercially Reasonable Efforts to create a technology transfer plan relating to the Technology Transfer (the “Technology Transfer Plan”). The Technology Transfer
Plan shall relate solely to the production process employed by GSK in the Manufacture of the Products, and shall be developed based on the expected date of expiry or termination of this Agreement and the availability of GSK Personnel and resources
to support such transfer. Purchaser and GSK shall cooperate to ensure that supporting such Technology Transfer pursuant to the Technology Transfer Plan does not place 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 45 

 CONFIDENTIAL 
  

 
an undue burden on GSK personnel and other resources. GSK shall transfer (subject to the terms of the licences granted in the Purchase Agreement) applicable records, documentation, GSK Know-How and GSK Intellectual Property in accordance with the Technology Transfer Plan and the timelines, formats, and other guidelines set forth therein. Except for a Technology Transfer pursuant to Clause 30.1(C)
or 30.1(D), the Purchaser shall reimburse GSK for such Technology Transfer support services [***]. The Purchaser will reimburse GSK for such services pursuant to Clause 12 (Invoice and Payment). If there is (i) an ongoing Technology
Transfer at the time of expiration or termination of the Agreement or (ii) this Agreement is terminated by the Purchaser pursuant to Clause 31.3(A) or Clause 36.2, the Technology Transfer Plan will survive for [***] from such termination or
expiration date. For clarity, the Purchaser shall not be required to reimburse GSK for any Technology Transfer support services, or direct costs or expenses associated with such Technology Transfer, if such Technology Transfer has been initiated by
the Purchaser pursuant to Clause 30.1(C) or 30.1(D). 
  

	30.2	 A Technology Transfer may be implemented in the circumstances contemplated by Clause 30.1(A) either in
anticipation of expiry of this Agreement or in the event of termination of this Agreement. 

  

	30.3	 The Purchaser may elect to implement a Technology Transfer pursuant to Clause 30.1(B) in the event of:

  

	 	(A)	 a material or repeated failure on the part of GSK to meet, or notification by GSK that it will be unable to
meet, any Firm Order for New Clinical Product; or 

  

	 	(B)	 a material or repeated failure on the part of GSK to Manufacture New Clinical Product (or, if applicable, New
Clinical API) in accordance with cGMP or the applicable Specifications, 

 provided that (in each case) such failure: 

 

	 	(i)	 has caused (or is reasonably likely to cause) a material delay in Purchaser’s development of Clinical
Products; and 

  

	 	(ii)	 is not due to any act or omission of Purchaser. 

 

	30.4	 Following a Technology Transfer undertaken pursuant to Clause 30.1(B) or Clause 30.1(C), Purchaser shall be
relieved of its obligation under Clause 4.1 to purchase [***] of its requirements for Products from GSK. 

  

	31.	 TERM AND TERMINATION 

 

	31.1	 This Agreement shall come into force on the Effective Date and, unless terminated earlier in accordance with
the provisions of this Agreement, shall continue in force for a period [***] from the Effective Date (the “Initial Term”). The term of this Agreement may be extended (i) if any Clinical Trials are expected to extend past the
Initial Term, by the Purchaser for a period of [***] by providing written notice to GSK at least [***] prior to the expiration of the Initial Term, or (ii) by mutual agreement of the Parties (each a “Renewal Term”, and
collectively with the Initial Term, the “Term”). 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 46 

 CONFIDENTIAL 
  

	31.2	 GSK shall have the right to terminate this Agreement: without prejudice to the provisions of Clause 3
(Development Services), on [***] notice in writing to the Purchaser if GSK cannot reasonably implement a required change to the Specifications or any Manufacturing process without significant interference to its other operations at the
Manufacturing Site or capital expenditure. 

  

	31.3	 Without prejudice to its other rights and remedies, either Party (the “Terminating Party”)
may, by written notice to the other Party (the “Defaulting Party”), terminate this Agreement immediately if: 

  

	 	(A)	 the Defaulting Party commits a material breach of this Agreement and, where such breach is capable of remedy,
fails to remedy the same within [***] after receipt of a written notice from the Terminating Party giving particulars of the breach and requiring it to be remedied; or 

 

	 	(B)	 an Insolvency Event or an Insolvency Proceeding occurs (save as part of a bona fide reorganisation not
involving insolvency) in respect of the Defaulting Party or its ultimate parent. 

  

	31.4	 This Agreement may be terminated at any time by the mutual written consent of the Parties.

  

	31.5	 Purchaser may terminate this Agreement at any time by giving GSK no less than [***] prior written notice.

  

	31.6	 GSK may terminate this Agreement in whole or in part at any time on giving not less than [***] written notice
to the Purchaser if the GSK Group proposes to close the Manufacturing Site; provided that upon such notice of termination, Purchaser may elect to initiate a Technology Transfer pursuant to Clause 30.1(C). 

 

	31.7	 Either Party may terminate this Agreement in respect of a Product immediately upon written notice to the other
Party if any Regulatory Authority reaches a final determination that such Product is not safe for use in humans. 

  

	31.8	 Either Party may terminate this Agreement in accordance with Clause 23.4. 

 

	31.9	 The Purchaser may terminate this Agreement in accordance with Clause 36.2. 

 

	32.	 CONSEQUENCES OF EXPIRY OR TERMINATION 

 

	32.1	 Upon expiry or termination of this Agreement for any reason, but subject to Clause 32.2: 

 

	 	(A)	 the Parties shall use reasonable efforts to wind down activities under this Agreement in a reasonable manner
and avoid incurring any additional expenditures or noncancellable obligations; 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 47 

 CONFIDENTIAL 
  

	 	(B)	 unless otherwise agreed to in writing by the Parties, all stock held by GSK, the Nominated Manufacturer or the
Nominated Supplier at the date of expiry or termination shall be dealt with as soon as practicable as follows: 

  

	 	(i)	 Products which comply with the terms of this Agreement shall either be: 

 

	 	(a)	 Delivered by GSK or the Nominated Supplier to the Purchaser (and the Purchaser shall pay GSK or the Nominated
Supplier for such Products in accordance with the terms of this Agreement); or 

  

	 	(b)	 at the Purchaser’s written request and cost (in accordance with Clause 18 (Write Offs)), destroyed
by the GSK Group; 

  

	 	(ii)	 work-in-progress started by GSK
or the Nominated Manufacturer shall either be: 

  

	 	(a)	 completed by GSK or the Nominated Manufacturer and Delivered to the Purchaser (and the Purchaser shall pay GSK
or the Nominated Supplier for such Products in accordance with the terms of this Agreement); or 

  

	 	(b)	 at the Purchaser’s written request and cost (in accordance with Clause 18 (Write Offs)), destroyed
by GSK; and 

  

	 	(iii)	 after completion of any
work-in-progress pursuant to Clause 32.1(B)(ii)(a), any remaining Purchaser Materials held by GSK or the Nominated Manufacturer shall (at the Purchaser’s election)
either be: 

  

	 	(a)	 made available for the Purchaser to collect from the Manufacturing Site at its own cost; or

  

	 	(b)	 at the Purchaser’s written request and cost (in accordance with Clause 18 (Write Offs)), destroyed
by GSK; and 

  

	 	(iv)	 after completion of any
work-in-progress pursuant to Clause 32.1(B)(ii)(a), Clause 18 (Write Offs) shall apply in respect of all remaining Materials (including the inventory of safety
stock of raw materials as required pursuant to Clause 6.3) held or ordered by GSK or the Nominated Manufacturer and all such Materials shall be destroyed by GSK at the Purchaser’s cost. 

 

	 	(C)	 the terms and conditions of this Agreement shall apply to any Products completed and/or Delivered pursuant to
Clause 32.1(B); 

  

	 	(D)	 except to the extent necessary to comply with Clause 32.1(B), the licence granted by the Purchaser in respect
of Purchaser Intellectual Property and the licence granted by GSK in respect of the GSK System shall automatically terminate; and 

  

	 	(E)	 each Party shall comply with Clause 22.5, provided that neither Party shall be obliged to return or
destroy any Confidential Information required to be used in connection with the completion or Delivery of any Products pursuant to Clause 32.1(B) until such Products have been Delivered. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 48 

 CONFIDENTIAL 
  

	32.2	 If this Agreement is terminated by GSK pursuant to Clause 31.3(B) due to any Insolvency Event or an Insolvency
Proceeding occurring in relation to the Purchaser, neither GSK nor any member of the GSK Group shall be required, by virtue of Clause 32.1, to: 

  

	 	(A)	 Deliver any Product in the possession of GSK, the Nominated Manufacturer or the Nominated Supplier;

  

	 	(B)	 complete any work-in-progress
started prior to the date of such termination by GSK or the Nominated Manufacturer; or 

  

	 	(C)	 otherwise take any step that may serve to increase the amount of any debt owed by the Purchaser to GSK or any
other member of the GSK Group, 

 and Clause 18 (Write Offs) shall apply in respect of all Products, work-in-progress and Materials held or ordered by GSK, the Nominated Supplier or the Nominated Manufacturer as at the date of such termination. 

 

	32.3	 After expiry or termination of this Agreement, the Parties shall provide each other with reasonable support
with respect to any investigation carried out by a Regulatory Authority with respect to the Manufacture of any Product under this Agreement, provided that the reasonable costs of the assisting Party in providing such assistance shall be
reimbursed by the Party requesting such assistance. 

  

	32.4	 The Quality Agreement shall automatically terminate upon expiry or termination of this Agreement (save for any
provisions of such Quality Agreement that are expressly stated to survive expiry or termination of this Agreement). 

  

	33.	 SURVIVAL OF RIGHTS, DUTIES AND OBLIGATIONS 

 

	33.1	 The expiry or termination of this Agreement shall not release either Party from any liability or right of
action which at the time of expiry or termination has already accrued to such Party or which may thereafter accrue in respect of any act or omission prior to such expiry or termination. Such rights shall include recovery of any monies due under this
Agreement. 

  

	33.2	 The expiry or termination of this Agreement shall not affect the coming into force or continuation in force of
any provision hereof which is expressly or by implication intended to come into force or continue in force on or after such expiry or termination. 

  

	33.3	 Without prejudice to the generality of Clause 33.2, the provisions of the following Clauses shall survive the
expiry or termination of this Agreement: [***]. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 49 

 CONFIDENTIAL 
  

	34.	 NOTICES 

  

	34.1	 All notices and other communications provided for hereunder shall be in writing in the English language, shall
specifically refer to this Agreement, shall be addressed to the receiving Party’s address set forth below or to such other address as a Party may designate by notice hereunder: 

A notice given under or in connection with this Agreement shall be: 
  

	 	(A)	 in writing in the English language and signed by or on behalf of the Party giving the notice;

  

	 	(B)	 sent for the attention of the person and to the address given in this Clause 34 (Notices);

  

	 	(C)	 delivered by hand; 

  

	 	(D)	 delivered by commercial courier; or 

 

	 	(E)	 sent by pre-paid first-class recorded delivery post in the country in
which the recipient’s address is located (or such other next working day postal delivery service in that country). 

  

	34.2	 The addresses for service of notice are: 

 

	 	(A)	 in the case of GSK: 

  

			
	Address:	  	980 Great West Road
		  	Brentford
		  	Middlesex
		  	TW8 9GS
		  	United Kingdom
		
	[***]	  	
	
	with a copy to:
		
	Address:	  	980 Great West Road
		  	Brentford
		  	Middlesex
		  	TW8 9GS
		  	United Kingdom
		
	[***]	  	

  

	 	(B)	 in the case of the Purchaser: 

 

			
	Address:	  	Dermavant Sciences GmbH
		  	 Viaduktstrasse 8
 4051 Basel

		  	Switzerland

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 50 

 CONFIDENTIAL 
  

			
		
	[***]	  	
	
	with a copy to:
		
	Address:	  	Dermavant Sciences Inc.
		  	320 West 37th Street, 5th Floor
		  	New York, NY 10018
		
	[***]	  	

  

	34.3	 A Party may change the details recorded for it in this Clause 34 (Notices) by notice to the other Party
(in accordance with this Clause 34 (Notices)). Such change shall take effect one (1) Business Day after that notice is deemed received pursuant to Clause 34.4. 

 

	34.4	 Unless proved otherwise and subject to Clause 34.5, a notice is deemed to have been received:

  

	 	(A)	 if delivered by hand, at the time of delivery; or 

 

	 	(B)	 if delivered by commercial courier, at the time of signature of the courier’s receipt; or

  

	 	(C)	 if sent by pre-paid first class recorded delivery post or other next
working day delivery service, [***] hours from the date of posting or at the time recorded by the delivery service. 

  

	34.5	 If deemed receipt under Clause 34.4 is not within Working Hours in the place of deemed receipt, the notice will
be deemed received at the start of the next period of Working Hours in that place. 

  

	34.6	 A notice given under this Agreement is not valid if sent by e-mail or
by fax. However, this is not intended to prohibit the use of e-mail for day to day operational communications between the Parties or their Affiliates. 

 

	34.7	 This Clause 34 (Notices) does not apply to the service of documents in respect of any Proceedings.

  

	35.	 RELATIONSHIP OF THE PARTIES 

Each Party is an independent contractor and neither is the agent of the other. Save where expressly stated in this Agreement, neither Party is
authorised to incur any expenditure or cost for the other Party or any of its Affiliates without the written consent of that other Party. Nothing in this Agreement shall be deemed to create an employment, agency, joint venture or partnership
relationship between the Parties or any of their agents or employees for any purpose. 
  

	36.	 ASSIGNMENT AND NOVATION 

 

	36.1	 Subject to the remaining provisions of this Clause 36 (Assignment and Novation), neither Party may
sublicense or assign this Agreement or any of its rights or obligations under this Agreement (including the benefit of any receivable arising under this Agreement) to a Person other than an Affiliate without the prior written consent of the other
Party (acting in its sole discretion), and any such consent shall not (and shall not be deemed to) relieve the assigning Party of any of its obligations or liabilities to the other Party under or pursuant to this Agreement. Subject to the remaining
provisions of this Clause 36 (Assignment and Novation), any purported assignment without a consent shall be void. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 51 

 CONFIDENTIAL 
  

	36.2	 GSK shall be entitled at any time by notice in writing to the Purchaser: 

 

	 	(A)	 to assign the whole or any part of the benefit of, or its rights and benefits under; or 

 

	 	(B)	 to novate the whole or any part of the benefit and burden of, or its rights, benefits, obligations and burdens
under, 

 this Agreement to (i) any Affiliate (including any Nominated Manufacturer or Nominated Supplier); or
(ii) a Third Party purchaser of the Manufacturing Site, provided that in the absence of a novation, GSK shall remain liable to the Purchaser in its capacity as principal obligor. In the event that GSK assigns or novates this Agreement to
a Third Party purchaser of the Manufacturing Site, then at any time in the [***] period commencing on the date on which GSK notifies the Purchaser of such assignment or novation, Purchaser shall have the right to elect in writing to: 

 

	 	(i)	 terminate this Agreement with effect from the later of (1) the date of such election in writing and
(2) the effective date of such assignment or novation; and 

  

	 	(ii)	 provided that the Purchaser (unless otherwise agreed with GSK) also terminates any agreement with GSK
(or any of its Affiliates) in respect of the manufacture at the Manufacturing Site and supply of tapinarof products for Commercialisation with effect from the same date as this Agreement, initiate a Technology Transfer pursuant to Clause 30
(Technology Transfer), 

  

	36.3	 Following any assignment or novation pursuant to Clause 36.2, all references in this Agreement to GSK shall be
deemed, where appropriate, to include GSK’s assigns. 

  

	36.4	 The Purchaser shall, on being required to do so by GSK, execute or procure the execution of all documents which
GSK may reasonably consider necessary to effect the novation (in whole or in part) of this Agreement pursuant to Clause 36.2. 

  

	37.	 SUB-CONTRACTORS 

 

	37.1	 GSK may sub-contract the performance of any of its obligations under
this Agreement to an Affiliate (including any Affiliate appointed to act as Nominated Manufacturer or Nominated Supplier). 

  

	37.2	 For the avoidance of doubt, if GSK appoints a sub-contractor to perform
its obligations in accordance with this Clause 37 (Sub-Contractors), GSK shall remain liable to the Purchaser for the performance of all its obligations and for any act or omission under this Agreement
of such sub-contractor in the performance of such obligations. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 52 

 CONFIDENTIAL 
  

	38.	 ENTIRE AGREEMENT 

This Agreement, including the Schedules, and the Purchase Agreement represent the entire agreement and understanding between the Parties and
supersedes all prior agreements between the Parties with respect to its subject matter and constitutes a complete and exclusive statement of the terms of the agreement between the Parties with respect to its subject matter. This Agreement may not be
amended or modified except by a written agreement duly executed by each of the Parties hereto pursuant to Clause 40. 
  

	39.	 SEVERABILITY 

If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this
Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable. 

 

	40.	 VARIATION, WAIVER AND AMENDMENT 

 

	40.1	 A variation of or amendment to this Agreement shall be in writing and signed by or on behalf of each Party.

  

	40.2	 Any waiver of any right in connection with this Agreement: 

 

	 	(A)	 is only effective if it is in writing, refers expressly to this Clause 40 (Variation, Waiver and
Amendment) and is signed by the waiving Party; and 

  

	 	(B)	 applies only in the circumstances for which it is given and shall not prevent the Party who has given the
waiver from subsequently relying on the provision it has waived. 

  

	40.3	 No failure to exercise or delay in exercising any right or remedy provided under or in connection with this
Agreement or by any Applicable Law constitutes a waiver of such right or remedy or shall prevent any future exercise in whole or in part thereof. The waiver of a right to require compliance with any provision of this Agreement in any instance shall
not operate as a waiver of any further exercise or enforcement of that right and the waiver of any breach shall not operate as a waiver of any subsequent breach. 

 

	40.4	 No single or partial exercise of any right or remedy under this Agreement shall preclude or restrict the
further exercise of any such right or remedy. 

  

	40.5	 Unless specifically provided otherwise, rights arising under this Agreement are cumulative and do not exclude
rights provided by any Applicable Law. 

  

	41.	 COUNTERPARTS 

This Agreement and any amendment hereto may be executed in any number of counterparts, each of which when executed and delivered shall be
deemed to be an original and all of which counterparts taken together shall constitute but one and the same instrument. The exchange of copies of this Agreement or amendments thereto and of executed signature pages by facsimile transmission or by
email transmission in portable document format (PDF), or similar format, shall constitute effective execution and delivery of such instrument(s) as to the Parties and may be used in lieu of the original Agreement or amendment for all purposes.
Signatures of the Parties transmitted by facsimile or by email in portable document format (PDF), or similar format, shall be deemed to be their original signatures for all purposes. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 53 

 CONFIDENTIAL 
  

	42.	 NO SET OFF 

Unless and to the extent expressly stated otherwise in this Agreement, neither Party shall be entitled to set off against any sum owed by that
Party or its Affiliates any sum owed by the other Party or its Affiliates. 
  

	43.	 LANGUAGE 

  

	43.1	 Any notice given under or in connection with this Agreement shall be in English. Any document provided in
connection with this Agreement shall be provided in English or provided with a certified English translation. If there is any inconsistency between the English version of this Agreement and any version in any other language, the English version
prevails. 

  

	43.2	 If Applicable Law requires this Agreement to be executed in a language other than English, or if Applicable Law
requires a Party to submit to any Governmental Entity a translation of this Agreement into a language other than English: 

  

	 	(A)	 the Purchaser shall procure, at its own cost and expense, a translation of this Agreement; and

  

	 	(B)	 GSK shall, at its own cost and expense, in good faith and acting reasonably, review and endeavour to agree the
accuracy of that translation. 

  

	43.3	 If the Parties are unable to agree the accuracy of a translation prepared pursuant to Clause 43.2, that dispute
shall be resolved by an Independent Expert and the decision of the Independent Expert shall be final and binding on the Parties. The Independent Expert’s fees shall be borne by the Party against whom the Independent Expert’s decision is
given. 

  

	43.4	 The Parties shall not execute a translation of this Agreement or (as the case may be) submit a translation of
this Agreement to any Governmental Entity until such translation has been agreed by the Parties (or the matter has been determined by the Independent Expert). 

 

	43.5	 Notwithstanding any requirement under Applicable Law for this Agreement to executed in a language other than
English, the Parties shall in any event execute one or more counterparts of this Agreement in the English language and: 

  

	 	(A)	 any copy of this Agreement that is executed in a translation that has been agreed between the Parties (or
determined by the Independent Expert) shall be deemed to be an additional counterpart of this Agreement for the purposes of Clause 41 (Counterparts); and 

 

	 	(B)	 as between the Parties, in the event of any conflict or inconsistency between the English language version of
this Agreement and any translation of this Agreement, the provisions of the English language version shall prevail. 

  

	44.	 NO COMPENSATION 

Without prejudice to any remedies for breach or Clause 32 (Consequences of Expiry or Termination), no compensation, whether for loss of
profit or otherwise, shall be payable to either Party by virtue of the expiry or termination of this Agreement. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 54 

 CONFIDENTIAL 
  

	45.	 DISPUTE RESOLUTION 

 

	45.1	 The provisions of this Clause 45 (Dispute Resolution) shall not apply in relation to any dispute arising
under any of Clauses 11.8, 15.3, 20.5 and 43.3. Each such dispute shall be determined by an Independent Expert in accordance with the provisions of the applicable Clause. 

 

	45.2	 Subject to Clause 45.1, each Party shall use its reasonable endeavours to resolve any dispute or difference
arising out of or in connection with this Agreement (a “Dispute”) by prompt discussion in good faith at a managerial level appropriate to the Dispute in question. This discussion shall be a
pre-condition to the commencement of legal Proceedings before any court. This procedure shall be invoked by either Party giving notice to the other setting out the issues in the Dispute and referring to this
Clause 45 (Dispute Resolution) and, unless the Parties agree otherwise, shall be treated as having been exhausted if the Dispute has not been resolved within [***] after the giving of the notice. 

 

	45.3	 Subject to Clause 45.4, nothing in Clause 45.2 precludes any Party from commencing or continuing Proceedings in
any court at any time: 

  

	 	(A)	 for an interim order to restrain any other Party from doing any act or compelling any other Party to do any
act; or 

  

	 	(B)	 for a judgment for a liquidated sum to which there is no arguable defence; or 

 

	 	(C)	 the purpose of which is to prevent a claim from becoming time-barred due to the expiry of any statutory or
contractual limitation period. 

  

	45.4	 Clause 45.3 shall not permit any Party to continue any court Proceedings without compliance with Clause 45.2:

  

	 	(A)	 if the Proceedings were commenced in reliance upon Clause 45.3(A), once the court has ordered, or the Parties
have agreed in writing, that the defendant should have permission to defend; or 

  

	 	(B)	 if the Proceedings were commenced in reliance upon Clause 45.3(C), once the Proceedings have been issued and
served, and the defendant has acknowledged service. 

  

	46.	 GOVERNING LAW AND JURISDICTION 

 

	46.1	 This Agreement and its negotiation, execution, performance or
non-performance, interpretation, termination, construction and all claims or causes of action (whether in contract, in tort, at law, or otherwise) that may be based upon, arise out of, or relate to this
Agreement or the transactions contemplated hereby (including any claim or cause of action based upon, arising out of or related to any representation or warranty made in connection with this Agreement or as an inducement to enter this Agreement),
shall be exclusively governed by, and construed in accordance with, the laws of the State of Delaware regardless of laws that might otherwise govern under any applicable conflict of laws principles. 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 55 

 CONFIDENTIAL 
  

	46.2	 Each Party hereby irrevocably submits to the exclusive jurisdiction of the Delaware courts in relation to all
matters, whether contractual or non-contractual, arising out of or in connection with this Agreement or its negotiation, existence, validity or enforceability. Any Proceeding concerning such matters shall be
brought only in the Delaware courts. Each Party hereby waives (and agrees not to raise) any objection, on the ground of forum non conveniens or on any other ground, to the taking of Proceedings in the Delaware courts. 

 

	46.3	 Each Party undertakes not to contest the enforcement against it of any judgment of the Delaware courts in
Proceedings on the ground that those courts did not have jurisdiction over it. 

 [The signatures follow on the next
page.] 

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 56 

 CONFIDENTIAL 
  

 IN WITNESS of which each Party has caused this Clinical Manufacturing and Supply Agreement in respect
of Tapinarof and Clinical Placebo to be duly executed by its duly authorised representative in a manner binding upon it on the day and year first before written. 

[The Schedules follow the signatures.] 
  

							
		 	)	  		  	
	Signed by /s/ E. Rindel
                                         
           	 	)	  		  	
	for and on behalf of	 	)	  		  	
	[***]	 		  	 Elizabeth Rinder
	  	
		 	)	  		  	                        
				
		 	)	  		  	
	Signed by Sascha
Bucher                                        
        	 	)	  		  	
	[***]	 		  	 /s/ Sascha Bucher
	  	
		 	)	  		  	

  

  
 CERTAIN
CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN
OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS DETERMINED THE INFORMATION (I) IS
NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM TO DERMAVANT
SCIENCES LTD. IF PUBLICLY DISCLOSED. 
 57 

 CONFIDENTIAL 
  

 SCHEDULE 1 

PRODUCTS AND PRICES 
 PART A: THE
PRODUCTS 
 [***] 

  
 Schedule 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS
DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY
CAUSE COMPETITIVE HARM TO DERMAVANT SCIENCES LTD. IF PUBLICLY DISCLOSED. 

 CONFIDENTIAL 
  

 PART B: PRICES 

Existing Clinical API, Existing Clinical Products and Existing Clinical Placebo: 

[***] 

  
 Schedule 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS
DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY
CAUSE COMPETITIVE HARM TO DERMAVANT SCIENCES LTD. IF PUBLICLY DISCLOSED. 

 CONFIDENTIAL 
  

 [***] 
 New
Clinical Products and New Clinical Placebo: 
 The Price for New Clinical Products and New Clinical Placebo Manufactured under this Agreement shall be
determined as follows: 
  

	 	(A)	 [***] 

  

	 	(B)	 [***] 

[***] 

  
 Schedule 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS
DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY
CAUSE COMPETITIVE HARM TO DERMAVANT SCIENCES LTD. IF PUBLICLY DISCLOSED. 

 CONFIDENTIAL 
  

 [***] 

  
 Schedule 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS
DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY
CAUSE COMPETITIVE HARM TO DERMAVANT SCIENCES LTD. IF PUBLICLY DISCLOSED. 

 CONFIDENTIAL 
  

 New Clinical API: 

The Price for New Clinical API Manufactured under this Agreement shall be determined as follows: 

 

	 	(A)	 [***] 

  

	 	(B)	 [***] 

  
 Schedule 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS
DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY
CAUSE COMPETITIVE HARM TO DERMAVANT SCIENCES LTD. IF PUBLICLY DISCLOSED. 

 CONFIDENTIAL 
  

 SCHEDULE 2 

SCOPE OF WORK FOR DEVELOPMENT SERVICES 

Each Scope of Work describes the activities and deliverables contemplated by the Parties for the applicable Development Services, together with the non-binding timeline for the performance or delivery of those Development Services. 
  

	1.	 General assumptions 

In addition to any specific assumptions set forth in a Scope of Work for the applicable Services, the following assumptions apply generally to all Development
Services undertaken pursuant to or in connection with such Scope of Work: 
  

	1.1	 Where applicable, GSK or its Affiliate will perform the Development Services set forth in a Scope of Work in
accordance with, and subject to, the GSK Group’s policies and standard operating procedures and Applicable Law. 

  

	1.2	 The Price payable by the Purchaser under a Scope of Work includes [***]. Unless otherwise provided in a Scope
of Work, Development Services shall be charged at the defined FTE Rate set forth in Schedule 4 (Fees) together with all of GSK’s direct costs and expenses for such Development Services and, if applicable, a management fee. Any
Manufacturing required to support Development Services under a Scope of Work will be charged at an agreed per batch cost as set forth in the applicable Scope of Work. 

 

	1.3	 Following the performance of the Development Services by GSK, GSK or its Affiliates shall invoice the Purchaser
in accordance with Clause 12 (Invoice and Payment) and notify the Purchaser in writing of the completion of the relevant Development Service. The Purchaser must notify GSK of its approval of such Development Service and any related
deliverables in writing within [***] of receipt of the notification of completion of such Development Service. GSK shall not be obliged to proceed with any activities for subsequent Development Services (if any) prior to receiving in writing the
Purchaser’s approval and acceptance of each preceding Development Service and related deliverables (if any), unless otherwise agreed between the Parties. 

 

	1.4	 In the event that any dispute or difference arises out of or in connection with the performance of a
Development Service under a Scope of Work and the Purchaser does not give its acceptance in respect of a Development Service and any related deliverables in accordance with paragraph 1.3 above (a “Service Dispute”), each Party shall
use its reasonable endeavours to resolve any such Service Dispute by prompt discussion in good faith at a managerial level appropriate to the Service Dispute in question. This procedure shall be invoked by either Party giving notice to the other
setting out the issues in the Service Dispute and referring to this paragraph and, unless the Parties agree otherwise, shall be treated as having been exhausted if the Service Dispute has not been resolved within [***] after the giving of the
notice. If the Service Dispute is treated as having been exhausted, GSK may terminate the relevant Scope of Work with immediate effect. 

  
 Schedule 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS
DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY
CAUSE COMPETITIVE HARM TO DERMAVANT SCIENCES LTD. IF PUBLICLY DISCLOSED. 

 CONFIDENTIAL 
  

	1.5	 Neither GSK nor any of its Affiliates shall support any development work or undertake any capital expenditure
in respect of the performance of the Development Services or the Manufacture of the Products under this Agreement. If any capital expenditure is identified during the Term as being required in respect of the Development Services or the Products, the
Parties shall discuss and agree in writing what is required and the expenditure shall be borne by the Purchaser. In the event that the Purchaser fails to pay any sum in respect of capital expenditure for which it is to bear the cost pursuant to this
paragraph 1.5, neither GSK nor its Affiliates shall bear any liability under this Agreement for any breach of its terms resulting from any failure to undertake, or delay in undertaking, such capital expenditure or any consequential failure to
Manufacture (or delay in Manufacturing) the Products pursuant to this Agreement. 

  
 Schedule 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS
DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY
CAUSE COMPETITIVE HARM TO DERMAVANT SCIENCES LTD. IF PUBLICLY DISCLOSED. 

 CONFIDENTIAL 
  

 Form of Scope of Work - Development Services 

The Purchaser’s request is for GSK to (i) [•] and (ii) [•]. 

The estimated Price (in aggregate) for GSK to complete the performance of these Development Services is [•]. 

In order to progress with [•], the following activities are to be performed by the Parties: 

Service 1: TBD 
  

			
	 Target Start
  

Target Completion
  

Assumptions

		
	Activities	  	 Goal:
  

GSK responsibilities:
  

Purchaser responsibilities:
  

•

		
	Deliverables	  	•
		
	Estimated Price	  	•

 Service 2: TBD 
  

			
	 Target Start
  

Target Completion
  

Assumptions

		
	Activities	  	 Goal:
  

GSK responsibilities:
  

Purchaser responsibilities:
  

•

		
	Deliverables	  	•
		
	Estimated Price	  	•

  
 Schedule 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS
DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY
CAUSE COMPETITIVE HARM TO DERMAVANT SCIENCES LTD. IF PUBLICLY DISCLOSED. 

 CONFIDENTIAL 
  

 SCHEDULE 3 

TOLL MANUFACTURE PROVISIONS 
  

	1.	 SUPPLEMENTARY PROVISIONS IN RELATION TO TOLL MANUFACTURE OF NEW CLINICAL PRODUCTS 

Save to the extent expressly amended or disapplied by virtue of this Schedule 3 (Toll Manufacture Provisions), all other terms and
conditions of this Agreement apply. In this Schedule 3 (Toll Manufacture Provisions), unless otherwise specified, any reference to a paragraph is to a paragraph of this Schedule 3 (Toll Manufacture Provisions). 

 

	2.	 USE OF TOLL MATERIALS 

 

	2.1	 Title to the Toll Materials, that part of any
work-in-progress containing the Toll Materials (“WIP”) and that part of New Clinical Products containing the Toll Materials shall at all times remain
with and vest in the Purchaser. GSK or the Nominated Supplier shall use such Toll Materials, WIP and New Clinical Products solely for the purposes of this Agreement. 

 

	2.2	 The risk in (but not title to) the Toll Materials shall pass to GSK on Delivery to GSK (or the Nominated
Supplier) (or shall remain with GSK in respect of Toll Materials that the Parties agree shall be left in GSK’s possession in consignment). 

  

	2.3	 The Toll Materials, WIP and New Clinical Products shall at all times be stored separately from (but may be
stored in the same warehouse or other facility as) other goods and merchandise in the possession of GSK or the Nominated Supplier and the containers holding the Toll Materials, WIP and New Clinical Products shall be clearly marked in such a way as
to identify that they are owned by the Purchaser or for use only for the Purchaser. 

  

	3.	 LOSS AND RECONCILIATION OF TOLL MATERIALS 

 

	3.1	 The Parties agree that the Expected Loss in respect of each New Clinical Product shall be [***]. The Expected
Losses identify in percentage terms the proportion of each Toll Material reasonably expected to be lost in the Manufacture of the relevant New Clinical Product(s), including in the event of a batch rejection. The Expected Losses take into account
GSK’s and the Nominated Supplier’s requirements to retain samples of the Toll Materials and/or New Clinical Products in accordance with Applicable Law. The Expected Losses shall be applicable throughout the Term unless otherwise mutually
agreed by the Parties. 

  

	3.2	 GSK shall report quarterly to the Purchaser and/or its Affiliate on the usage of each Toll Material it
achieves, in order for the Parties to calculate the actual usage achieved by GSK and the Nominated Supplier, and for this purpose shall provide to the Purchaser by the end of the month following each Calendar Quarter Day and the date of termination
or expiry of this Agreement a reconciliation report (in respect of the previous Calendar Quarter or period and Reporting Year to date) in such format as the Parties may agree showing: 

 

	 	(A)	 the opening quantities of each Toll Material held by GSK or the Nominated Supplier at the start of the Calendar
Quarter; 

  
 Schedule 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS
DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY
CAUSE COMPETITIVE HARM TO DERMAVANT SCIENCES LTD. IF PUBLICLY DISCLOSED. 

 CONFIDENTIAL 
  

	 	(B)	 the receipts of each Toll Material from the Purchaser (or its Affiliate) during that Calendar Quarter;

  

	 	(C)	 the actual usage of each Toll Material during that Calendar Quarter and during that Reporting Year through the
end of such Calendar Quarter in the Manufacture of New Clinical Products and the quantities of New Clinical Products Manufactured; and 

  

	 	(D)	 the stock of each Toll Material and related WIP and New Clinical Products containing the same, held by GSK or
the Nominated Supplier remaining unprocessed or not yet Delivered to the Purchaser or its Affiliate at the end of such Calendar Quarter; 

provided that the first such report in respect of each New Clinical Product shall relate to the period commencing on the Effective Date
and ending on the first Calendar Quarter Day falling at least one (1) month after the Effective Date. 
  

	3.3	 On the last Business Day of the month following the end of each Reporting Year during the Term (including
following the final Reporting Year of the Term), the Parties shall calculate the Reconciliation Value for the Reporting Year just ended as follows: 

[***] 
  

	3.4	 If the Reconciliation Value is positive, GSK shall reimburse the Purchaser (or its Affiliate) for such
Reconciliation Value. 

  

	3.5	 If the Reconciliation Value is negative, such Reconciliation Value shall be carried forward to the next
Reporting Year and used in calculating the subsequent Reconciliation Value in accordance with the formula set forth at paragraph 3.3. 

  

	3.6	 For the purposes of the calculation in paragraph 3.3, the loss of any of the Toll Materials that are Defective
(other than as a result of any negligent act or omission of GSK or its Affiliates following Delivery of such Toll Materials) or written off pursuant to Clause 18 (Write Off Costs) and paragraph 5 (Supplementary Write Off Provisions)
shall be disregarded. 

  
 Schedule 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS
DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY
CAUSE COMPETITIVE HARM TO DERMAVANT SCIENCES LTD. IF PUBLICLY DISCLOSED. 

 CONFIDENTIAL 
  

	3.7	 The provisions of Clause 11.8 shall apply mutatis mutandis in the event of any dispute in respect of the
calculation of any Reconciliation Value under this paragraph 3 (Loss and Reconciliation of Toll Materials). 

  

	4.	 REQUIREMENTS FOR TOLL MATERIALS 

 

	4.1	 On the [***] of each calendar month (or on such other Business Day during each month as may be agreed), GSK
shall notify the Purchaser of its requirements for Toll Materials based on the Forecast Schedule and the applicable Lead Time for the relevant New Clinical Product. 

 

	4.2	 GSK shall be released of its obligations to supply the relevant New Clinical Product to the Purchaser to the
extent that the quantity of Toll Materials in its possession is not sufficient to Manufacture such New Clinical Product (other than as a result of GSK’s failure to comply with its obligations in respect of any agreed Manufacture of New Clinical
API or due to a Defect in Purchased Clinical API or Maintained Excess Clinical API). 

  

	5.	 SUPPLEMENTARY WRITE OFF PROVISIONS 

For the avoidance of doubt, in determining any sum to be reimbursed by the Purchaser (or its Affiliate) to the GSK Group pursuant to Clause 18 (Write Off
Costs), the cost to the GSK Group of any Toll Materials required to be written off shall be [***]. 

  
 Schedule 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS
DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY
CAUSE COMPETITIVE HARM TO DERMAVANT SCIENCES LTD. IF PUBLICLY DISCLOSED. 

 CONFIDENTIAL 
  

 SCHEDULE 4 

FEES 
 [***] 

  
 Schedule 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS
DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE DERMAVANT SCIENCES LTD. HAS
DETERMINED THE INFORMATION (I) IS NOT MATERIAL AND (II) WOULD LIKELY
CAUSE COMPETITIVE HARM TO DERMAVANT SCIENCES LTD. IF PUBLICLY DISCLOSED.

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