Document:

Second Amended and Restated Investors' Rights Agreement

 Exhibit 10.10 
 TERCICA, INC. 
 SECOND AMENDED AND RESTATED 
 INVESTORS’ RIGHTS AGREEMENT 
 This
Second Amended and Restated Investors’ Rights Agreement (the “Agreement”) is made as of July 30, 2007 by and among Tercica, Inc., a Delaware corporation (the “Company”), the holders of the Company’s
Common Stock set forth on Exhibit A hereto (the “Investors”) and the Founders listed on Exhibit B hereto (the “Founders”). 
 RECITALS 
 WHEREAS, the Company, the Investors and the Founders are parties to that certain
Amended and Restated Investors’ Rights Agreement, dated as of July 9, 2003, as amended (the “Prior Agreement”); and 
 WHEREAS, the Company, the Investors and the Founders (for and on behalf of all Investors and all Founders) who have executed this Agreement wish to amend and restate the Prior Agreement in its entirety as set forth below. 

AGREEMENT 
 NOW, THEREFORE,
in consideration of the premises and covenants contained in this Agreement and other valid consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 A. Amendment of Prior Agreement. Effective and contingent upon the execution of this Agreement by the Company and the Holders (as such term is defined in the Prior
Agreement) of a majority-in-interest of the Registrable Securities (as such term is defined in the Prior Agreement) outstanding on the date of this Agreement not including the Founder Shares (as such term is defined in the Prior Agreement), the
Prior Agreement is hereby amended and restated in its entirety to read as set forth in this Agreement, and the Company, the Founders and the Investors hereby agree to be bound by the provisions hereof as the sole agreement of such parties with
respect to registration rights of the Company’s securities and certain other rights, as set forth herein. Upon such execution, all provisions of, rights granted and covenants made in the Prior Agreement are hereby waived, released and
superseded in their entirety and shall have no further force or effect. 
 1. Certain Definitions. As used in this Agreement, the following terms
shall have the following respective meanings: 
 “Business Day” means a day, other than Saturday, Sunday or other day on which commercial
banks in New York, New York are authorized or required by Law to close. 
 “Closing” shall have the same meaning as the meaning ascribed to
the term “Closing” under the Genentech Purchase Agreement. 
 “Commission” shall mean the Securities and Exchange Commission or
any other federal agency at the time administering the Securities Act. 
 “Common Stock” shall mean the Common Stock of the Company.

 “Common Stock Warrant” shall mean the warrant to purchase 146,250 shares of Common Stock issued to Three
Crowns Capital as of May 16, 2002. 
 “Conversion Stock” shall mean the shares of Common Stock issuable or issued upon conversion of
the Shares. 
 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. 
 “Final Genentech Closing” shall mean the earlier to occur of (i) the termination of the Genentech Purchase Agreement or (ii) the final Closing
under the Genentech Purchase Agreement. 
 “Founder” shall mean each person or entity (and their respective affiliates) listed on Exhibit
B hereto. 
 “Founder Shares” shall mean all shares of Common Stock of the Company respectively owned by the Founders, whether now owned
or acquired in the future. 
 “Fully-Diluted Basis” shall mean the then outstanding shares of Common Stock of the Company, shares of Common
Stock issuable upon exercise of outstanding options, warrants or other convertible securities, and any Common Stock reserved for future issuance pursuant to plans approved by the Board of Directors. 
 “Genentech” shall mean Genentech, Inc., a Delaware corporation. 
 “Genentech Common Shares” shall mean the shares of Common Stock issued to Genentech pursuant to the Genentech Purchase Agreement. 
 “Genentech Purchase Agreement” shall mean that certain Common Stock Purchase Agreement, dated as of July 6, 2007, by and between the Company and Genentech, as the same may be amended from time to time. 
 “Holder” shall mean the holders of Registrable Securities that have not been sold to the public and any person holding such Registrable Securities to
whom the rights under this Agreement have been transferred in accordance with Section 2.13 hereof. 
 “Initiating Holders” shall mean
the Holder or Holders of at least fifty percent (50%) of the Registrable Securities then outstanding; provided, further, that each Founder and any holder of the Warrant Shares shall not be deemed a “Holder”, and the
Founder Shares and the Warrant Shares shall not be deemed “Registrable Securities” for purposes of defining those Holders of Registrable Securities that are eligible to request a registration pursuant to Section 2.5(a). 
 “Ipsen” shall mean Ipsen S.A., a French société anonyme and/or one or more of its affiliates. 
 “Ipsen Holder” shall mean a holder of Ipsen Registrable Securities. 
 “Ipsen Registrable Securities” shall have the same meaning as the meaning ascribed to the term “Registrable Securities” under the Ipsen Rights Agreement. 
 “Ipsen Registration” shall mean any registration effected at the request of an Ipsen Holder pursuant to the Ipsen Rights Agreement. 
  

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 “Ipsen Rights Agreement” shall mean that certain Registration Rights Agreement, dated as of
October 13, 2006, by and among the Company, Ipsen and Suraypharm, as the same may be amended from time to time. 
 “Kingsbridge
Registration” shall mean any registration effected pursuant to that certain Registration Rights Agreement, dated as of October 14, 2005, by and between the Company and Kingsbridge Capital Limited, as the same may be amended from time
to time. 
 “Registrable Securities” means (a) the Conversion Stock, (b) any Common Stock issuable or issued with respect to, or
in exchange for or in replacement of, the Conversion Stock or other securities convertible into or exercisable for Conversion Stock upon any stock split, stock dividend, recapitalization, subdivision or similar event, (c) the Genentech Common
Shares, (d) the Founder Shares, and (e) the Warrant Shares; provided, however, that (i) for the purposes of Sections 2.5 and 2.7, the Founder Shares and the Warrant Shares shall not be deemed “Registrable
Securities” and the Founders and the holder of the Warrant Shares shall not be deemed “Holders”; and (ii)(A) the foregoing definition shall exclude in all cases any Registrable Securities sold by a person in a transaction in which his
or her rights under this Agreement are not assigned pursuant to Section 2.13 hereof; (B) shares of Common Stock or other securities shall only be treated as Registrable Securities if and as long as they have not been (1) sold to or
through a broker or dealer or underwriter in a public distribution or a public securities transaction or (2) sold in a transaction exempt from the registration and prospectus delivery requirements of the Securities Act under Section 4(1)
thereof so that all transfer restrictions, and restrictive legends with respect thereto, if any, are removed upon the consummation of such sale; and (C) any shares of Common Stock held by a Holder shall cease to be included in the definition of
Registrable Securities when all of the Registrable Securities then held by such Holder (together with any affiliate of the Holder with whom such Holder must aggregate its sales under Rule 144 under the Securities Act) may be sold pursuant to Rule
144 under the Securities Act during any ninety (90) day period. 
 The terms “register,” “registered” and
“registration” refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act, and the declaration or ordering of the effectiveness of such registration statement. 

“Registration Expenses” shall mean all expenses, except as otherwise stated below, incurred by the Company in complying with Sections 2.5, 2.6 and
2.7 hereof, including, without limitation, all out-of-pocket registration, qualification and filing fees, accounting fees related thereto, printing expenses, escrow fees, fees and disbursements of counsel for the Company and the reasonable fees and
disbursements of one (1) special counsel to the selling Holders. 
 “Restricted Securities” shall mean the securities of the Company
required to bear the legend set forth in Section 2.2 hereof. 
 “Securities Act” shall mean the Securities Act of 1933, as amended, or
any similar federal statute and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time. 
 “Selling
Expenses” shall mean all underwriting discounts, selling commissions and stock transfer taxes applicable to the securities registered on behalf of the Holders. 
 “Series A Shares” shall mean the shares of the Company’s Series A Preferred Stock issued (i) pursuant to the Series A Purchase Agreement and (ii) upon the exercise of the Series A
Warrants. 
 “Series A Warrants” shall mean (i) the warrant to purchase 7,500 shares of the Company’s Series A Preferred Stock
issued to T-Bolaget AB dated January 31, 2002, (ii) the warrant to purchase 12,500 

  

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shares of the Company’s Series A Preferred Stock issued to T-Bolaget AB dated January 31, 2002, (iii) the warrant to purchase 7,500 shares of
the Company’s Series A Preferred Stock issued to Texcel International AB dated January 31, 2002, and (iv) the warrant to purchase 12,500 shares of the Company’s Series A Preferred Stock issued to Texcel International AB dated
January 31, 2002. 
 “Series A Purchase Agreement” shall mean that certain Series A Preferred Stock Purchase Agreement, dated as of
May 16, 2002, by and between the Company and certain of the Investors. 
 “Series B Purchase Agreement” shall mean that certain Series
B Preferred Stock Purchase Agreement, dated as of July 9, 2003, by and between the Company and certain of the Investors. 
 “Series B
Shares” shall mean the shares of the Company’s Series B Preferred Stock issued pursuant to the Series B Purchase Agreement. 
 “Suraypharm” shall mean Suraypharm, a French société par actions simplifiée, a subsidiary of Ipsen. 
 “Shares” shall mean, collectively, the Series A Shares and Series B Shares. 
 “VLL” shall mean Venture
Lending & Leasing IV, LLC. 
 “VLL Agreement” shall mean that certain Common Stock Agreement, dated as of January 21, 2005, by
and between the Company and VLL, as the same may be amended from time to time. 
 “VLL Holder” shall mean VLL and/or one or more of its
affiliates. 
 “VLL Registrable Securities” shall have the same meaning as the meaning ascribed to the term “Registrable
Securities” under the VLL Agreement. 
 “Warrant Shares” shall mean the shares of Common Stock issued upon conversion of the Common
Stock Warrant. 
 2. Restrictions on Transferability of Securities; Compliance with Securities Act; Registration Rights. 
 2.1 Restrictions on Transferability. The Shares and the Conversion Stock shall not be sold, assigned, transferred or pledged except upon the
conditions specified in this Section 2, which conditions are intended to ensure compliance with the provisions of the Securities Act. Each Investor will cause any proposed purchaser, assignee, transferee, or pledgee of the Shares or the
Conversion Stock held by Investor to agree to take and hold such securities subject to the provisions and upon the conditions specified in this Section 2. 
 2.2 Restrictive Legend. Each certificate representing (i) the Shares, (ii) the Conversion Stock or (iii) any other securities issued in respect of the Shares or the Conversion Stock upon any
stock split, stock dividend, recapitalization, merger, consolidation or similar event, shall (unless otherwise permitted by the provisions of Section 2.3 below) be stamped or otherwise imprinted with a legend in the following form (in addition
to any legend required under applicable state or international securities laws): 
 THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISPOSITION MAY
BE EFFECTED WITHOUT AN 

  

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EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER
THE SECURITIES ACT. 
 The Holders consent to the Company making a notation on its records and giving instructions to any transfer agent of the Shares or the
Conversion Stock in order to implement the restrictions on transfer established in this Section 2. 
 2.3 Notice of Proposed
Transfers. 
 (a) The holder of each certificate representing Restricted Securities by acceptance thereof agrees to comply in all respects
with the provisions of this Section 2.3. Prior to any proposed sale, assignment, transfer or pledge of any Restricted Securities (other than (i) a transfer not involving a change in beneficial ownership, or (ii) in transactions
involving the distribution without consideration of Restricted Securities by any Holder to any of its partners, members, grantors to a trust that is an Investor, or other equity owners, or retired partners, retired members or other equity owners, or
to the estate of any of its partners, members or other equity owners or retired partners, retired members or other equity owners, (iii) a transfer to an affiliated fund, partnership or company, which is not a competitor of the Company, subject
to compliance with applicable securities laws, or (iv) transfers in compliance with Rule 144(k), as long as the Company is furnished with satisfactory evidence of compliance with such Rule), unless there is in effect a registration statement
under the Securities Act covering the proposed transfer, the holder thereof shall give written notice to the Company of such holder’s intention to effect such transfer, sale, assignment or pledge. 
 (b) Each such notice shall describe the manner and circumstances of the proposed transfer, sale, assignment or pledge in sufficient detail, and shall be
accompanied, at such holder’s expense, by either (i) a written opinion of legal counsel (who shall, and whose legal opinion shall be, reasonably satisfactory to the Company) addressed to the Company, to the effect that the proposed
transfer of the Restricted Securities may be effected without registration under the Securities Act, or (ii) a “no action” letter from the Commission to the effect that the transfer of such securities without registration will not
result in a recommendation by the staff of the Commission that action be taken with respect thereto, whereupon the holder of such Restricted Securities shall be entitled to transfer such Restricted Securities in accordance with the terms of the
notice delivered by the holder to the Company. 
 (c) Each certificate evidencing the Restricted Securities transferred in accordance with
this Section 2 shall bear the appropriate restrictive legend set forth in Section 2.2 above, except that such certificate shall not bear such restrictive legend if, in the opinion of counsel for such holder and in the reasonable opinion of
the Company’s counsel, such legend is not required in order to establish compliance with any provision of the Securities Act. 
 2.4
Removal of Restrictions on Transfer of Securities. Any legend referred to in Section 2.2 hereof stamped on a certificate evidencing the Restricted Securities and the stock transfer instructions and record notations with respect to such
Restricted Securities shall be removed and the Company shall issue a certificate without such legend to the holder of such Restricted Securities if (i) such securities are registered under the Securities Act, or (ii) such holder provides
the Company with an opinion of counsel reasonably acceptable to the Company to the effect that a public sale or transfer of such securities may be made without registration under the Securities Act, or (iii) such holder provides the Company
with reasonable assurances, which may, at the option of the Company, include an opinion of counsel satisfactory to the Company, that such securities can be sold pursuant to Section (k) of Rule 144 under the Securities Act. 
  

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 2.5 Requested Registration. 
 (a) Request for Registration. If (x) the Company shall receive at any time a written request from the Initiating Holders that the
Company file a registration statement with respect to the Registrable Securities and the anticipated aggregate offering price of the Registrable Securities requested to be so registered shall be equal to or exceed $10,000,000 (prior to the deduction
of underwriter discounts or commissions and offering expenses), in each case subject to a minimum offering price to the public of $12.00 per share (as adjusted for stock splits, stock dividends, reclassifications, subdivisions combinations and the
like after the date of this Agreement), then (y) the Company will use commercially reasonable efforts to: 
 (A) within ten days
of the receipt by the Company of such notice, give written notice of the proposed registration statement to all other Holders; and 
 (B) as
soon as practicable thereafter, effect such registration under the Securities Act as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of such Registrable Securities as are specified in such
Initiating Holders’ request, together with all or such portion of the Registrable Securities of any Holder or Holders joining in such request as are specified in written requests received by the Company within twenty (20) days after
delivery of such written notice by the Company. 
 Notwithstanding the foregoing, the Company shall not be obligated to take any action to effect any such
registration pursuant to this Section 2.5: 
 (1) In any particular jurisdiction in which the Company would be required to qualify as a
foreign corporation, subject itself to taxation in that jurisdiction or execute a general consent to service of process in effecting such registration, unless the Company is already subject to service in such jurisdiction and except as may be
required under the Securities Act; 
 (2) During the period starting with the date sixty (60) days prior to the Company’s good
faith estimated date of filing of, and ending on the date six (6) months immediately following the effective date of, any registration statement pertaining to securities of the Company (other than a registration statement relating either to the
sale of securities to employees of the Company pursuant to a stock option, stock purchase or similar plan or a Rule 145 transaction), provided that the Company is actively employing in good faith all commercially reasonable efforts to cause
such registration statement to become effective; 
 (3) After the Company has filed two (2) such registrations pursuant to this
Section 2.5(a), and such registrations have been declared or ordered effective; 
 (4) If the Initiating Holders’ written request
proposes to dispose of shares of Registrable Securities that may be immediately registered on Form S-3 pursuant to a request made pursuant to Section 2.7 below; 
 (5) If the Initiating Holders’ written request does not request that such offering be firmly underwritten by a managing underwriter of national standing; 
 (6) If the Initiating Holders are unable to obtain the commitment of a nationally recognized underwriter to firmly underwrite the offering; or

  

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 (7) If the Company shall furnish to the Initiating Holders requesting a registration statement pursuant
to this Section 2.5 a certificate signed by the President of the Company stating that in the good faith judgment of the Board of Directors it would be seriously detrimental to the Company or its stockholders for a registration statement to be
filed and it is therefore essential to defer the filing of such registration statement, then the Company shall have the right to defer such filing for a period not to exceed 120 days from the date of receipt of the written request from the
Initiating Holders; provided, however, that the Company shall not exercise such right more than once in any twelve-month period and the Company shall not register any securities for the account of itself or any other stockholders of
the Company during such 120 day period (other than a Kingsbridge Registration, an Ipsen Registration, a registration relating solely to the sale of securities of participants in a Company stock plan, a registration relating to a corporate
reorganization or transaction under Rule 145 of the Securities Act, a registration on any form that does not include substantially the same information as would be required to be included in a registration statement covering the sale of the
Registrable Securities, or a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered). 
 (b) Underwriting. In the event that a registration pursuant to Section 2.5(a) is for a registered public offering involving an underwriting,
the Company shall so advise the Holders as part of the notice given pursuant to Section 2.5(a). The right of any Holder to registration pursuant to Section 2.5(a) shall be conditioned upon such Holder’s participation in the
underwriting arrangements required by this Section 2.5(b), and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent requested shall be limited to the extent provided herein. 
 The Company shall (together with all Holders proposing to distribute their securities through such underwriting) enter into an underwriting agreement in customary form
with the managing underwriter. The managing underwriter shall be of recognized national standing, shall be selected by the Company and shall be reasonably acceptable to the Initiating Holders. Notwithstanding any other provision of this
Section 2.5, if the managing underwriter determines that marketing factors require a limitation of the number of shares to be underwritten, the managing underwriter may limit the Registrable Securities and other securities to be distributed
through such underwriting. The Initiating Holders shall so advise the Company and all Holders distributing their securities through such underwriting of such limitation, and the number of shares of Registrable Securities that may be included in the
registration shall be allocated among all Holders requesting to include Registrable Securities in such registration statement based on the pro rata percentage of Registrable Securities held by such Holders. To facilitate the allocation of shares in
accordance with the above provisions, the Company may round the number of shares allocated to any Holder or Holders to the nearest 100 shares. In no event shall the number of Registrable Securities underwritten in such a registration be limited
unless and until all shares held by persons other than the holders of the Registrable Securities are completely excluded from such offering. 
 The
limitation on the number of registrations under this Section 2.5 set forth in Section 2.5(a) shall not apply to any registration in which more than 50% of the Registrable Securities requested by Holders to be included in such registration
are excluded pursuant to the preceding paragraph; provided that (i) the aggregate number of shares of Registrable Securities initially requested by such Holders to be so registered is not greater than that number of shares that
represents 20% of the then outstanding capital stock of the Company on a Fully-Diluted Basis, and (ii) the applicable provisions of Section 2.5(a)(x) have been satisfied as of the effective date of such registration statement. 

If any Holder of Registrable Securities disapproves of the terms of the underwriting, such Holder may elect to withdraw therefrom by written notice to the Company,
the managing underwriter and the Holders. The Registrable Securities and/or other securities so withdrawn shall also be withdrawn from registration. 
  

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 2.6 Company Registration. 
 (a) Notice of Registration. If at any time or from time to time the Company shall determine to register any of its securities, either for its own
account or the account of a security holder or holders (other than a Kingsbridge Registration, an Ipsen Registration, a registration relating solely to employee benefit plans, a registration relating solely to a Rule 145 transaction, a registration
in which the only stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered, or a registration pursuant to Section 2.5 hereof), the Company shall: 
 (i) promptly give to each Holder written notice thereof; and 
 (ii) include in such registration, and in any underwriting involved therein, subject to Section 2.6(b) below, all the Registrable Securities specified in a written request or requests, made within twenty
(20) days after delivery of such written notice by the Company, by any Holder. 
 (b) Underwriting. If the registration of which
the Company gives notice is for a registered public offering involving an underwriting, the Company shall so advise the Holders as a part of the written notice given pursuant to Section 2.6(a)(i). In such event, the right of any Holder to
registration pursuant to this Section 2.6 shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of Registrable Securities in the underwriting to the extent provided herein. 
 All Holders proposing to distribute their securities through such underwriting shall (together with the Company) enter into an underwriting agreement in customary form
with the managing underwriter selected for such underwriting by the Company. Notwithstanding any other provision of this Section 2.6, if the managing underwriter determines that marketing factors require a limitation of the number of shares to
be underwritten, the number of shares that may be included in the underwriting shall be allocated first, to the Company; second, to the selling Holders, any selling Ipsen Holders and any selling VLL Holders on a pro rata basis based on the
total number of Registrable Securities, Ipsen Registrable Securities and VLL Registrable Securities held by the selling Holders, any selling Ipsen Holders and any selling VLL Holders, respectively; and third, to any stockholder of the Company (other
than a Holder, an Ipsen Holder or a VLL Holder); provided, however, that in no event shall (i) the aggregate number of Registrable Securities, Ipsen Registrable Securities and VLL Registrable Securities of the selling Holders, any
selling Ipsen Holders and any selling VLL Holders included in the offering be reduced to below twenty-five percent (25%) of the total number of securities included in such offering, or (ii) any Warrant Shares or securities held by a
Founder be included in such offering if any Registrable Securities, Ipsen Registrable Securities or VLL Registrable Securities held by any selling Holder, any selling Ipsen Holder or any selling VLL Holder, respectively, are excluded from such
offering. The Company shall so advise all Holders distributing their securities through such underwriting of such exclusion or limitation, and in the case of a limitation, the number of shares of Registrable Securities that may be included in the
registration. No Registrable Securities excluded from the underwriting by reason of the underwriter’s marketing limitation shall be included in such registration. To facilitate the allocation of shares in accordance with the above provisions,
the Company may round the number of shares allocated to any Holders, Ipsen Holders or VLL Holders to the nearest 100 shares. In no event shall the number of Registrable Securities underwritten in such an offering be limited unless and until all
other shares held by persons other than a Holder, an Ipsen Holder or a VLL Holder are completely excluded from such offering. 
 For purposes of the
preceding paragraph as it relates to apportionment, for any Holder, Ipsen Holder or VLL Holder that has requested to include its Registrable Securities, Ipsen Registrable Securities or VLL Registrable Securities, as the case may be, in an
underwritten offering and that is a venture capital fund, partnership or corporation, the affiliated venture capital funds, partners, retired partners and stockholders 

  

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of such Holder, Ipsen Holder or VLL Holder or the estates and family members of any such partners and retired partners and any trusts for the benefit of any
of the foregoing persons shall be deemed to be a single “Holder,” “Ipsen Holder” or “VLL Holder,” as the case may be, and any pro rata reduction with respect to such Holder, Ipsen Holder or VLL Holder shall be
based upon the aggregate amount of Registrable Securities, Ipsen Registrable Securities or VLL Registrable Securities, as the case may be, owned by all such related entities and individuals; provided that all such affiliated entities shall
have a single attorney-in-fact for the purpose of exercising any rights, receiving notices or taking any action hereunder. 
 If any Holder or Holders
disapprove of the terms of any such underwriting, such Holder or Holders may elect to withdraw therefrom by written notice to the Company and the managing underwriter. Any securities excluded or withdrawn from such underwriting shall be withdrawn
from such registration. 
 (c) Right to Terminate Registration. The Company shall have the right to terminate or withdraw any
registration initiated by it under this Section 2.6 prior to the effectiveness of such registration whether or not any Holder, Ipsen Holder or VLL Holder has elected to include securities in such registration. The Registration Expenses of such
withdrawn registration shall be borne by the Company. 
 (d) Amendments and Waivers. Notwithstanding Section 5.1 hereof, for so
long as the total number of Ipsen Registrable Securities exceeds ten percent (10%) of the total number of outstanding shares of Common Stock, the provisions of this Section 2.6 may be amended or waived (either generally or in a particular
instance, either retroactively or prospectively and either for a specified period of time or indefinitely), with and only with the written consent of (i) the Company, (ii) the Holders of a majority-in-interest of the then-outstanding
Registrable Securities (not including the Founder Shares) if at the time of such amendment or waiver, the total number of Registrable Securities (not including the Founder Shares) exceeds ten percent (10%) of the total number of outstanding
shares of Common Stock, and (iii) the Ipsen Holders holding a majority-in-interest of the then-outstanding Ipsen Registrable Securities; provided, however, that (x) if such waiver or amendment materially and adversely affects
the rights of the Holders of Founder Shares and does not materially and adversely affect the rights of all other Holders of Registrable Securities in the same manner, then such waiver or amendment shall require the consent of the Holder or Holders
of a majority-in-interest of the then-outstanding Founder Shares (it being agreed that a waiver of the provisions of this Section 2.6 with respect to a particular registration shall be deemed to apply to all Holders in the same manner if such
waiver does so by its terms, notwithstanding the fact that certain Holders or Ipsen Holders may nonetheless, by agreement with the Company, include Registrable Securities in such registration), and (y) if at the time of such amendment or waiver
the total number of Registrable Securities (not including the Founder Shares) is less than ten percent (10%) of the total number of outstanding shares of Common Stock and the written consent of the Holders of a majority-in-interest of the
then-outstanding Registrable Securities (not including the Founder Shares) is not required to give effect to such amendment or waiver by operation of subclause (ii) of this Section 2.6(d), and such waiver or amendment materially and
adversely affects the rights of the Holders of Registrable Securities and does not materially and adversely affect the rights of the Ipsen Holders in the same manner, then such waiver or amendment shall require the consent of the Holders of a
majority-in-interest of the then-outstanding Registrable Securities (not including the Founder Shares). With the same consent, the Company, when authorized by resolution of its Board of Directors, may enter into a supplementary agreement for the
purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Section 2.6. 
  

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 2.7 Registration on Form S-3. 
 (a) If any Holder or Holders request in writing that the Company file a registration statement on Form S-3 (or any successor form to Form S-3) for a
public offering of Registrable Securities, the reasonably anticipated aggregate price to the public of which would exceed $1,000,000, and the Company is a registrant entitled to use Form S-3 to register the Registrable Securities for such an
offering, the Company shall: 
 (i) promptly give to each Holder written notice hereof; and 
 (ii) use commercially reasonable efforts to cause such Registrable Securities to be so registered; provided, however, that the Company
shall not be required to effect a Form S-3 registration within 180 days of the effective date of a prior registration statement under the Securities Act and shall not be required to effect more than two (2) such registrations in any twelve
(12) month period. 
 (b) Notwithstanding the foregoing, the Company shall not be obligated to take any action pursuant to this
Section 2.7: 
 (i) in any particular jurisdiction in which the Company would be required to qualify as a foreign corporation, subject
itself to taxation in that jurisdiction or execute a general consent to service of process in effecting such registration unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act;

 (ii) if the Company, within ten (10) days of the receipt of the request of the initial Holders, gives notice of its bona fide
intention to effect the filing of a registration statement with the Commission within sixty (60) days of receipt of such request (other than with respect to a registration statement relating either to the sale of securities to employees of the
Company pursuant to a stock option, stock purchase or similar plan or a Rule 145 transaction) (which period shall extend to the date that is six (6) months immediately following the effective date of any such registration statement),
provided that the Company is actively employing in good faith all commercially reasonable efforts to cause such registration statement to become effective; or 
 (iii) if the Company shall furnish to such Holders a certificate signed by the President of the Company stating that in the good faith judgment of the Board of Directors it would be seriously detrimental to the
Company or its stockholders for a registration statement to be filed and is therefore essential to defer the filing of such registration statement, then the Company shall have a right to defer such filing for a period not to exceed 120 days from the
receipt of the written request to file such registration by such Holders; provided, however, that the Company shall not exercise such right more than once in any twelve-month period and provided further that the Company shall
not register any securities for the account of itself or any other stockholder of the Company during such 120 day period (other than a Kingsbridge Registration, an Ipsen Registration, a registration relating solely to the sale of securities of
participants in a Company stock plan, a registration relating to a corporate reorganization or transaction under Rule 145 of the Securities Act, a registration on any form that does not include substantially the same information as would be required
to be included in a registration statement covering the sale of the Registrable Securities, or a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being
registered). 
 (c) If the Initiating Holders intend to distribute the Registrable Securities covered by their request by means of an
underwriting, they shall so advise the Company as a part of their request made pursuant to this Section 2.7 and the Company shall include such information in the written notice referred to in Section 2.7(a). The provisions of
Section 2.5(b) shall be applicable to such request (with the substitution of Section 2.7 for references to Section 2.5) 
  

 10 

 2.8 Expenses of Registration. All Registration Expenses incurred in connection with registrations
pursuant to Sections 2.5, 2.6 and 2.7 shall be borne by the Company; provided, however, that the Company shall not be required to pay for any expenses of any registration proceeding begun pursuant to Sections 2.5 and 2.7 if the
registration request is subsequently withdrawn at the request of the Holders of a majority of the Registrable Securities to be registered or because a sufficient number of Holders shall have withdrawn so that the minimum offering conditions set
forth in Sections 2.5 and 2.7 are no longer satisfied (in which case all participating Holders shall bear such expenses), unless the Holders of a majority of the Registrable Securities agree to forfeit their right to a demand registration pursuant
to Section 2.5; provided, however, that if at the time of such withdrawal, the Holders have learned of a material adverse change in the condition, business, or prospects of the Company from that known to the Holders at the time of
their request for registration and have withdrawn the request with reasonable promptness following disclosure by the Company of such material adverse change, then the Holders shall not be required to pay any of such expenses and shall retain their
rights pursuant to Sections 2.5 or 2.7. All Selling Expenses relating to securities registered on behalf of the Holders shall be borne by the holders of securities included in such registration pro rata among each other on the basis of the number of
shares so registered. 
 2.9 Registration Procedures. In the case of each registration effected by the Company pursuant to this
Section 2, the Company will keep each Holder advised in writing as to the initiation of each registration and as to the completion thereof. At its expense the Company will: 
 (a) Prepare and file with the Commission a registration statement with respect to the Registrable Securities and use its commercially reasonable efforts
to cause such registration statement to become effective, and keep such registration statement effective for a period of up to ninety (90) days or, if earlier, until the distribution contemplated in such registration statement has been
completed; 
 (b) Prepare and file with the Commission such amendments and supplements to such registration statement and the prospectus used
in connection with such registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement. 
 (c) Furnish to the Holders participating in such registration and to the underwriters of the securities being registered such number of copies of the
registration statement, preliminary prospectus, final prospectus and such other documents as such Holders and underwriters may reasonably request in order to facilitate the public offering of such securities. 
 (d) Use its commercially reasonable efforts to register and qualify the securities covered by such registration statement under such other securities
laws of such jurisdictions as shall be reasonably requested by the Holders, provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general consent to service of
process in any such states or jurisdictions. 
 (e) In the event of any underwritten public offering, enter into and perform its obligations
under an underwriting agreement, in usual and customary form, with the managing underwriter(s) of such offering. Each Holder participating in such underwriting shall also enter into and perform its obligations under such an agreement. 
 (f) Notify each Holder of Registrable Securities covered by such registration statement at any time when a prospectus relating thereto is required to be
delivered under the Securities Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact
required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing. 
  

 11 

 (g) In the event of any underwritten public offering, cooperate with the selling Holders, the
underwriters participating in the offering and their counsel in any due diligence investigation reasonably requested by the selling Holders or the underwriters in connection therewith, and participate, to the extent reasonably requested by the
managing underwriter for the offering or the selling Holder, in efforts to sell the Registrable Securities under the offering (including, without limitation, participating in “roadshow” meetings with prospective investors) that would be
customary for underwritten primary offerings of a comparable amount of equity securities by the Company. 
 (h) Cause all such Registrable
Securities registered pursuant hereunder to be listed on a national exchange or trading system and on each securities exchange and/or trading system on which similar securities issued by the Company are then listed. 
 (i) Provide a transfer agent and registrar for all Registrable Securities registered pursuant hereunder and a CUSIP number for all such Registrable
Securities, in each case not later than the effective date of such registration. 
 2.10 Indemnification. 
 (a) The Company will indemnify each Holder, each of its officers, directors. members, managers, grantors to a trust that is an Investor, advisors and
partners, and each person controlling such Holder within the meaning of Section 15 of the Securities Act, with respect to which registration has been effected pursuant to this Section 2, and each underwriter, if any, and each person who
controls any underwriter within the meaning of Section 15 of the Securities Act, against all expenses, claims, losses, damages or liabilities (or actions in respect thereof), joint or several, including any of the foregoing incurred in
settlement of any litigation, commenced or threatened, arising out of or based on any untrue statement (or alleged untrue statement) of a material fact contained in any registration statement, prospectus, offering circular or other document, or any
amendment or supplement thereto, incident to any such registration, qualification or compliance, or based on any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements
therein, in light of the circumstances in which they were made, not misleading, or any violation or alleged violation by the Company of the Securities Act, the Exchange Act or any state securities laws or any rule or regulation promulgated under the
Securities Act, the Exchange Act or any state securities laws applicable to the Company in connection with any such registration and the Company will reimburse each such Holder, each of its officers, directors, members, managers, grantors to a trust
that is an Investor, advisors, partners and each person controlling such Holder, each such underwriter and each person who controls any such underwriter, for any legal and any other expenses reasonably incurred in connection with investigating,
preparing or defending any such claim, loss, damage, liability or action within a reasonable time of such expenses having been incurred, provided that the Company will not be liable in any such case to the extent that any such claim, loss, damage,
liability or expense arises out of or is based on any untrue statement or omission or alleged untrue statement or omission, made in reliance upon and in conformity with written information furnished to the Company by an instrument duly executed by
any Holder, controlling person or underwriter specifically for use therein, or the failure of any Holder to deliver a prospectus that was delivered to the Holder prior to a sale or sales by the Holder. 
 (b) Each Holder will, if Registrable Securities held by such Holder are included in the securities as to which such registration is being effected,
indemnify the Company, each of its directors and officers, each underwriter, if any, of the Company’s securities covered by such a registration statement, each person who controls the Company or such underwriter within the meaning of
Section 15 

  

 12 

 
of the Securities Act, each other Holder selling securities covered by such registration statement, and each of the officers, directors, partners and each
person controlling such Holder within the meaning of Section 15 of the Securities Act, against all claims, losses, damages and liabilities (or actions in respect thereof), joint or several, arising out of or based on any untrue statement (or
alleged untrue statement) of a material fact contained in any such registration statement, prospectus, offering circular or other document, or any omission (or alleged omission) to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, and will reimburse the Company, such Holders, such directors, officers, persons, underwriters or control persons for any legal or any other expenses reasonably incurred in connection with
investigating or defending any such claim, loss, damage, liability or action within a reasonable time of such expenses having been incurred, in each case to the extent, but only to the extent, that such untrue statement (or alleged untrue statement)
or omission (or alleged omission) is made in such registration statement, prospectus, offering circular or other document in reliance upon and in conformity with written information furnished to the Company by an instrument duly executed by such
Holder specifically for use therein. Notwithstanding the foregoing, the liability of each Holder under this subsection (b) shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion
that the public offering price of the shares sold by such Holder under such registration statement bears to the total public offering price of all securities sold thereunder, but not to exceed the net proceeds received in the ordinary course by such
Holder from the sale of Registrable Securities covered by such registration statement unless such liability resulted from willful misconduct by such Holder. A Holder will not be required to enter into any agreement or undertaking in connection with
any registration under this Section 2 providing for any indemnification or contribution on the part of such Holder greater than the Holder’s obligations under this Section 2.10(b). 
 (c) Each party entitled to indemnification under this Section 2.10 (the “Indemnified Party”) shall give notice to the party
required to provide indemnification (the “Indemnifying Party”) promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the
defense of any such claim or any litigation resulting therefrom, provided that counsel for the Indemnifying Party, who shall conduct the defense of such claim or litigation, shall be approved by the Indemnified Party (whose approval shall not
unreasonably be withheld), and the Indemnified Party may participate in such defense at such party’s expense, and provided further that the failure of any Indemnified Party to give notice as provided herein shall not relieve the Indemnifying
Party of its obligations under this Section 2 unless the failure to give such notice is materially prejudicial to an Indemnifying Party’s ability to defend such action and provided further, that the Indemnifying Party shall not assume the
defense for matters as to which there is a conflict of interest or separate and different defenses but shall bear the expense of such defense nevertheless, provided that the Indemnifying Party shall not bear the expense of more than one
separate counsel in such event. No Indemnifying Party, in the defense of any such claim or litigation, shall, except with the consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as
an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect to such claim or litigation. 
 (d) If the indemnification provided for paragraphs (a) through (c) of this Section 2.10 is unavailable to hold harmless an Indemnified Party under such paragraphs in respect of any losses, claims,
damages or liabilities or actions in respect thereof referred to therein, then each Indemnifying Party shall in lieu of indemnifying such Indemnified Party contribute to the amount paid or payable by such Indemnified Party as a result of such
losses, claims, damages, liabilities or actions in such proportion as appropriate to reflect the relative fault of the Company, on the one hand, and the underwriters and the Holder of such Registrable Securities, on the other, in connection with the
statements or omissions which resulted in such losses, claims, damages, liabilities or actions as well as any other relevant equitable considerations, including the failure to give any notice under paragraph (c). The relative fault shall be
determined by reference to, among other things, whether the untrue or alleged untrue statement of a 

  

 13 

 
material fact relates to information supplied by the Company, on the one hand, or the underwriters or the Holders of such Registrable Securities, on the
other, and to the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The Company and each of the Holders agrees that it would not be just and equitable if contributions
pursuant to this paragraph were determined by pro rata allocation (even if all of the Holders of such Registrable Securities were treated as one entity for such purpose) or by any other method of allocation which did not take account of the
equitable considerations referred to above in this paragraph. The amount paid or payable by an Indemnified Party as a result of the losses, claims, damages, liabilities or action in respect thereof, referred to above in this paragraph, shall be
deemed to include any legal or other expenses reasonably incurred by such Indemnified Party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this paragraph, no Holder shall be required to
contribute any amount in excess of the lesser of (i) the proportion that the public offering price of shares sold by such Holder under such registration statement bears to the total public offering price of all securities sold thereunder, but
not to exceed the net proceeds received in the ordinary course by such Holder for the sale of Registrable Securities covered by such registration statement and (ii) the amount of any damages which they would have otherwise been required to pay
by reason of such untrue or alleged untrue statement or omission. No person guilty of fraudulent misrepresentations (within the meaning of Section 11(f) of the Securities Act), shall be entitled to contribution from any person who is not guilty
of such fraudulent misrepresentation. 
 2.11 Information by Holder. The Holder or Holders of Registrable Securities included in any
registration shall furnish to the Company such information regarding such Holder or Holders, the Registrable Securities held by them, and the distribution proposed by such Holder or Holders as the Company may reasonably request in writing and as
shall be required in connection with any registration referred to in this Section 2. 
 2.12 Rule 144 Reporting. With a view to
making available the benefits of certain rules and regulations of the Commission which may permit the sale of the Restricted Securities to the public without registration or pursuant to a registration on Form S-3, after such time as a public market
exists for the Common Stock of the Company, the Company agrees to use its best efforts to: 
 (a) Make and keep public information available,
as those terms are understood and defined in Rule 144 under the Securities Act, at all times after the effective date the Company becomes subject to the reporting requirements of the Securities Act or the Exchange Act. 
 (b) Use its best efforts to file with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act
and the Exchange Act; 
 (c) As long as a Holder owns any Restricted Securities, to furnish to the Holder forthwith upon request a written
statement by the Company as to its compliance with the reporting requirements of Rule 144, and of the Securities Act and the Exchange Act or that it qualifies as a registrant whose securities may be resold pursuant to Form S-3 (if at such time it so
qualifies), a copy of the most recent annual or quarterly report of the Company, and such other reports and documents of the Company and other information in the possession of or reasonably obtainable by the Company as a Holder may reasonably
request in availing itself of any rule or regulation of the Commission allowing a Holder to sell any such securities without registration or pursuant to such form. 
 2.13 Transfer of Registration Rights. The rights to cause the Company to register securities granted Holders under Sections 2.5, 2.6 and 2.7 may be assigned to a transferee or assignee (a) in connection
with any transfer or assignment by a Holder of more than 1,000,000 shares of Registrable Securities (as adjusted for stock splits, stock dividends, subdivisions, combinations, recapitalizations and 

  

 14 

 
the like after the date of this Agreement), or to any transferee or assignee who is (i) an “affiliate” (as defined in Rule 405 under the
Securities Act) or a subsidiary, parent, general partner, limited partner, retired partner, member or retired member of a Holder or (ii) a member of Holder’s immediate family or a trust for the benefit of a Holder who is an individual;
provided that (b)(i) the Company is, within a reasonable time after such transfer, furnished with written notice of the name and address of such transferee or assignee and the securities with respect to which such registration rights are
being assigned, (ii) such assignment shall be effective only if immediately following such transfer the further disposition of such securities by the transferee or assignee is restricted under the Securities Act and (iii) the assignee or
transferee enters into a written agreement with the Company whereby the assignee or transferee agrees to be bound by the terms of this Agreement. For the purposes of determining the number of shares of Registrable Securities held by a transferee or
assignee, the holdings of transferees and assignees of a partnership who are partners or retired partners of such partnership (including spouses and ancestors, lineal descendants and siblings of such partners or spouses who acquire Registrable
Securities by gift, will or intestate succession) shall be aggregated together and with the partnership; provided that all assignees and transferees who would not qualify individually for assignment of registration rights shall have a single
attorney-in-fact for the purpose of exercising any rights, receiving notices or taking any action hereunder. 
 2.14 Reserved.

 2.15 Termination of Registration Rights. 
 (a) Subject to the provisions of Section 2.15(b), the rights granted under this Section 2 shall terminate on the earlier to occur of the following: (i) March 22, 2009 (the “General
Termination Date”); or (ii) with respect to a particular Holder, when such Holder is eligible to sell all of its Registrable Securities (together with any affiliate of the Holder with whom such Holder must aggregate its sales under
Rule 144 under the Securities Act) within a 90 day period in reliance on Rule 144 under the Securities Act. 
 (b) Notwithstanding
Section 2.15(a), if on the General Termination Date any Genentech Common Shares shall constitute Registrable Securities hereunder, the rights granted under this Section 2 (other than the rights granted under Sections 2.6 and 2.16 hereof)
with respect to such Genentech Common Shares shall continue until the earlier to occur of the following: (i) the third anniversary of the Final Genentech Closing; or (ii) with respect to a particular Holder of Genentech Common Shares, when
such Holder is eligible to sell all of its Genentech Common Shares (together with any affiliate of the Holder with whom such Holder must aggregate its sales under Rule 144 under the Securities Act) within a 90 day period in reliance on Rule 144
under the Securities Act. For the avoidance of doubt, it is understood and agreed that the rights granted under Sections 2.6 and 2.16 hereof shall in all cases terminate in accordance with the provisions of Section 2.15(a). 
 2.16 Limitations on Subsequent Registration Rights. Prior to the General Termination Date, the Company shall not enter into any agreement granting
any holder or prospective holder of any securities of the Company registration rights that are senior or pari passu to the registration rights granted to the Registrable Securities hereunder without the consent of the Holders of a
majority-in-interest of the then-outstanding Registrable Securities (not including the Founder Shares), unless such holder derives its rights as an additional Holder hereunder pursuant to Section 5.2 below. 
 3. Reserved. 
 4. Reserved. 
  

 15 

 5. Miscellaneous. 
 5.1 Amendments and Waivers. Subject to the provisions of Section 2.6(d), with the written consent of (i) the Company and (ii) the Holders of a majority-in-interest of the then-outstanding
Registrable Securities (not including the Founder Shares), the obligations of the Company and the rights of the holders of the Registrable Securities under this Agreement may be waived or amended (either generally or in a particular instance, either
retroactively or prospectively and either for a specified period of time or indefinitely); provided, however, that if such waiver or amendment materially and adversely affects the rights of the Holders of Founder Shares and does not
materially and adversely affect the rights of all other Holders of Registrable Securities in the same manner, then such waiver or amendment shall require the consent of the Holder or Holders of a majority-in-interest of the then-outstanding Founder
Shares (it being agreed that a waiver of the provisions of Section 2.6 with respect to a particular registration shall be deemed to apply to all Holders in the same manner if such waiver does so by its terms, notwithstanding the fact that
certain Holders may nonetheless, by agreement with the Company, include Registrable Securities in such registration). With the same consent, the Company, when authorized by resolution of its Board of Directors, may enter into a supplementary
agreement for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement. Neither this Agreement nor any provisions hereof may be changed, waived, discharged or terminated orally, but
only by a signed statement in writing. Notwithstanding anything to the contrary set forth herein, no waiver, amendment or modification may be made to Section 2.15(b) of this Agreement without the express written consent of Genentech and the
Company. 
 5.2 Additional Parties. Subject to Section 2.16 above, the parties hereto agree that additional holders of securities
of the Company may, with the written consent of the Company and Holders of a majority-in-interest of the then-outstanding Registrable Securities (not including the Founder Shares), be added as parties to this Agreement with respect to any or all
securities of the Company held by such additional holders, and shall thereupon be deemed for all purposes “Holders” hereunder. Any such additional party shall execute a counterpart of this Agreement, and upon execution by such additional
party and by the Company, shall be considered a Holder for purposes of this Agreement. 
 5.3 Reserved. 
 5.4 Aggregation of Stock. All shares of Registrable Securities held or acquired by affiliated entities or persons shall be aggregated together for
the purpose of determining the availability of rights under this Agreement; provided that all such affiliated entities shall designate in writing a single attorney-in-fact for the purpose of exercising any rights, receiving notices or taking
any action hereunder, and shall provide notice of any such designation to the Company. 
 5.5 Stock Splits. All references to numbers
of shares in this Agreement shall be appropriately adjusted to reflect any stock dividend, split, combination or other recapitalization of shares by the Company occurring after the date of this Agreement. 
 5.6 Governing Law. This Agreement shall be governed in all respects by the internal laws of the State of California as applied to agreements
entered into among California residents to be performed entirely within California. 
 5.7 Successors and Assigns. Except as otherwise
provided herein, this Agreement is for the benefit of, and shall be binding upon, the parties hereto and their respective heirs, personal representatives, successors and assigns. Nothing in this Agreement, express or implied, is intended to confer
upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. 
  

 16 

 5.8 Entire Agreement. This Agreement constitutes the full and entire understanding and agreement
between the parties regarding the matters set forth herein and all other written or oral agreements existing between the parties hereto with respect to the matters set forth herein (including the Prior Agreement) are expressly cancelled. 

5.9 Notices. All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by registered mail,
certified mail (return receipt requested) or by internationally recognized express courier (e.g., Federal Express), postage prepaid, or sent by fax or electronic mail or otherwise delivered by hand or by messenger addressed: 
 (a) if to an Investor, at the Investor’s address or fax number set forth on Exhibit A hereto, or at such other address as such Investor shall
have furnished to the Company; 
 (b) if to the Company, one copy should be sent to its address or fax number of record and addressed to the
attention of the General Counsel, or at such other address or fax number as the Company shall have furnished to the parties hereto, with a copy to: Cooley Godward Kronish LLP, Five Palo Alto Square, 3000 El Camino Real, Palo Alto, California 94306,
Attention: Suzanne Sawochka Hooper, Facsimile: (650) 849-7400; or 
 (c) if to a Founder, at the Founder’s address or fax number
set forth on Exhibit B hereto, or at such other address as such Founder shall have furnished to the Company. 
 (d) Each such notice
shall for all purposes of this Agreement be treated as effective or having been given on the earliest to occur of the following: 
 (i) The
date of personal delivery or delivery by messenger; 
 (ii) One (1) Business Day after transmission by facsimile, with confirmation of
transmission and copy by first class mail, postage prepaid; 
 (iii) One (1) Business Day after deposit with an internationally
recognized express courier for United States deliveries, or three (3) Business Days after such deposit for deliveries outside of the United States; or 
 (iv) Three (3) Business Days after deposit in a regularly maintained receptacle for the deposit of the United States mail by registered or certified mail (return receipt requested) for United States deliveries.

 5.10 Titles and Subtitles. The titles of the paragraphs and subparagraphs of this Agreement are for convenience of reference only
and are not to be considered in construing this Agreement. 
 5.11 Severability. If one or more provisions of this Agreement are held
to be unenforceable under applicable law, the parties agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (a) such provision
shall be excluded from this Agreement, (b) the balance of the Agreement shall be interpreted as if such provision were so excluded and (c) the balance of the Agreement shall be enforceable in accordance with its terms. 
  

 17 

 5.12 Counterparts. This Agreement may be signed and delivered in two or more counterparts, each of
which shall be deemed an original and all of which together will constitute one and the same instrument. 
 [Remainder of page
intentionally left blank] 
  

 18 

 IN WITNESS WHEREOF, the parties have executed this Amended and Restated Investors’ Rights
Agreement as of the day and year first set forth above. 
  

							
	 COMPANY:
	 	INVESTORS:
		
	TERCICA, INC.	 	MPM BIOVENTURES III, LP
		 	By:	 	MPM BioVentures III GP, L.P., its General Partner
	By:	 	 /s/ Stephen N. Rosenfield
	 	By:	 	MPM BioVentures III LLC, its General Partner
		 	Stephen N. Rosenfield	 		 	
		 	Executive Vice President of Legal Affairs, General Counsel and Secretary	 		 	
		 		 	By:	 	 /s/ Dennis Henner

		 		 	Name:	 	Dennis Henner
		 		 	Title:	 	Series A Member
			
		 		 	MPM BIOVENTURES III-QP, LP
		 		 	By:	 	MPM BioVentures III GP, L.P., its General Partner
		 		 	By:	 	MPM BioVentures III LLC, its General Partner
				
		 		 	By:	 	 /s/ Dennis Henner

		 		 	Name:	 	Dennis Henner
		 		 	Title:	 	Series A Member
			
		 		 	MPM BIOVENTURES III PARALLEL FUND, LP
		 		 	By:	 	MPM BioVentures III GP, L.P., its General Partner
		 		 	By:	 	MPM BioVentures III LLC, its General Partner
				
		 		 	By:	 	 /s/ Dennis Henner

		 		 	Name:	 	Dennis Henner
		 		 	Title:	 	Series A Member

  

 [SIGNATURE PAGE TO SECOND AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT] 

			
	 INVESTORS:

	
	MPM BIOVENTURES III GMBH & CO. BETEILIGUNGS KG
	By:	 	MPM BioVentures III GP, L.P., in its capacity as the Managing Limited Partner
	By:	 	MPM BioVentures III LLC, its General Partner
		
	By:	 	 /s/ Dennis Henner

	Name:	 	Dennis Henner
	Title:	 	Series A Member
	
	MPM ASSET MANAGEMENT INVESTORS 2002 BVIII LLC
		
	By:	 	 /s/ Dennis Henner

	Name:	 	Dennis Henner
	Title:	 	Series A Member

  

 [SIGNATURE PAGE TO SECOND AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT] 

			
	INVESTORS:
	
	PROSPECT VENTURE PARTNERS II, L.P.
	By:	 	Prospect Management Co. II, LLC, its General Partner
	
	 /s/ Alex Barkas

	 (Signature)

	
	 Alex Barkas, Managing Member

	(Name and title of signatory)
	
	PROSPECT ASSOCIATES II, L.P.
	By:	 	Prospect Management Co. II, LLC, its General Partner
	
	 /s/ Alex Barkas

	(Signature)
	
	 Alex Barkas, Managing Member

	(Name and title of signatory)
	
	RHO VENTURES IV, L.P.
	By:	 	Rho Management Ventures IV, L.L.C., General Partner
	
	 /s/ Mark Leschly

	(Signature)
	
	 Mark Leschly, Managing Member

	(Name and title of signatory)
	
	RHO VENTURES IV (QP), L.P.
	By:	 	Rho Management Ventures IV, L.L.C., General Partner
	
	 /s/ Mark Leschly

	(Signature)
	
	 Mark Leschly, Managing Member

	(Name and title of signatory)

  

 [SIGNATURE PAGE TO SECOND AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT] 

			
	INVESTORS:
	
	RHO VENTURES IV GMBH & CO. BETILIGUNGS KG
	By:	 	Rho Capital Partners Verwaltungs GmbH, General Partner
	
	 /s/ Mark Leschly

	(Signature)
	
	 Mark Leschly, Managing Member

	(Name and title of signatory)
	
	RHO MANAGEMENT TRUST I
	By:	 	Rho Capital Partners, Inc., as Investment Adviser
	
	 /s/ Mark Leschly

	(Signature)
	
	 Mark Leschly, Managing Member

	(Name and title of signatory)

  

 [SIGNATURE PAGE TO SECOND AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT] 

	
	INVESTORS:
	
	GENENTECH INC.
	
	 /s/ David A. Ebersman

	(Signature)
	
	 David A. Ebersman, EVP and CFO

	(Name and title of signatory)

  

 [SIGNATURE PAGE TO SECOND AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT] 

			
	FOUNDERS:
		
	By:	 	 /s/ John A. Scarlett III

		 	JOHN A. SCARLETT III
	
	THE JOHN A. SCARLETT III, 1999 TRUST
	
	 /s/ James A. Williams

	(Signature)
	
	 James A. Williams, Trustee

	(Name and title of signatory)
	
	THE SUSAN E. SCARLETT 1999 TRUST
	
	 /s/ James A. Williams

	(Signature)
	
	 James A. Williams, Trustee

	(Name and title of signatory)
	
	BOAT HARBOUR LTD.
	
	  

	(Signature)
	
	  

	(Name and title of signatory)

  

 [SIGNATURE PAGE TO SECOND AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT] 

 EXHIBIT A 
 INVESTORS 
 Rho Ventures IV, L.P. 
 152 W. 57th Street, 23rd Floor 
 New York, NY 10019 
 Rho Ventures IV GmbH & Co. Betiligungs KG 
 152 W. 57th Street, 23rd Floor 
 New York, NY 10019 
 Rho Ventures IV (QP), L.P. 
 152 W. 57th Street, 23rd Floor 
 New York, NY 10019 
 Rho Management Trust I 
 152 W. 57th Street, 23rd Floor 
 New York, NY 10019 
 Genentech, Inc. 
 1 DNA Way 
 South San Francisco, CA 94080-4990 
 Care Capital Investments II, LP 
 47 Hulfish Street, Ste 310 
 Princeton, NJ 08542 
 Fax: (609) 683-5787 
 MedImmune Ventures, Inc. 
 35 West Watkins Mill Rd. 
 Gaithersburg, MD 20878 
 Attn: Legal Affairs 
 Fax: (240) 632-4189 
 MPM Asset Management Investors 2002 BVIII LLC

 111 Huntington Avenue, 31st Floor 
 Boston, MA 02199

 Fax: (617) 425-9201 
 MPM BioVentures III Parallel Fund,
LP 
 111 Huntington Avenue, 31st Floor 
 Boston, MA 02199

 Fax: (617) 425-9201 
 MPM BioEquities Master Fund, LP

 111 Huntington Avenue, 31st Floor 
 Boston, MA 02199

 Fax: (617) 425-9201 

 MPM BioEquities Fund GmbH & Co. KG 
 111 Huntington Avenue, 31st 
 Floor Boston, MA 02199 
 Fax: (617) 425-9201 
 MPM BioVentures III, LP 
 111 Huntington Avenue, 31st Floor 
 Boston, MA 02199 
 Fax: (617) 425-9201 
 MPM BioVentures III-QP, LP 
 111 Huntington Avenue, 31st Floor 
 Boston, MA 02199 
 Fax: (617) 425-9201 
 MPM BioVentures III GmbH & Co. Parallel-Beteiligungs KG 
 111 Huntington Avenue, 31st Floor 
 Boston, MA 02199 
 Fax: (617) 425-9201 
 Prospect Venture Partners II, L.P. 
 435 Tasso St. #200 
 Palo Alto, CA 94301 
 Prospect Associates II L.P. 
 435 Tasso St. #200 
 Palo Alto, CA 94301 
 T-Bolaget 
 Box 110 28 
 Sôdra Hamngatan 23 
 SE-404 21 
 Gôteborg Sweden 
 Texcel International AB 
 P.O. Box 5712 
 SE-114 87 Stockholm 
 Sweden 
 WS Investment Company, LLC (2003A) 
 650 Page Mill Road 
 Palo Alto, CA 94304 
 WS Investment Company, LLC (2003C) 
 650 Page Mill Road 
 Palo Alto, CA 94304 
 Ken Clark 
 c/o Wilson Sonsini Goodrich & Rosati, P.C. 

650 Page Mill Road 
 Palo Alto, CA 94304-1050 
 Fax: (650) 493-6811 

 Selim Day 
 c/o Wilson
Sonsini Goodrich & Rosati, P.C. 
 650 Page Mill Road 
 Palo Alto, CA 94304-1050 
 Fax: (650) 493-6811 
 Three Crowns Capital 
 c/o Peter Svennilson 
 60 Rutland
Gate 
 London 
 SW7 1PJ 
 UK 

 EXHIBIT B 
 FOUNDERS 
 The John A. Scarlett III, 1999 Trust 
 515 Congress Avenue, Suite 2300 
 Austin, TX 78701 
 The Susan E. Scarlett 1999 Trust 
 515 Congress Avenue, Suite 2300 
 Austin, TX 78701 
 John A. Scarlett III 
 515 Congress Avenue, Suite 2300 
 Austin, TX 78701 
 Boat Harbour Ltd., c/o Ross Clark 
 25 Glen Road 
 Devonport 
 AUCKLAND 
 Olle Isaksson 
 Sahlgrenska University Hospital 
 RCEM / Medicinkliniken 
 Grona Straket 8 
 SE-413 45 
 Goteborg 
 SWEDEN 
 Fax: 46 31 82 1524 
 The H.S. & G.P. Moore Trust No. 1 
 6-8 Nugent St 

PO Box 8729 
 Symonds St 
 AUCKLANDCommon Stock Purchase Agreement

 Exhibit 10.14E 
 JULY 9, 2007 
 TERCICA, INC. 
 IPSEN, S.A. 
 and 
 SURAYPHARM 
  

 COMMON STOCK PURCHASE AGREEMENT 
  

 CONTENTS 
  

					
	 	  	 	  	PAGE
	 CLAUSE
	  		  	
			
	 ARTICLE 1
	  	DEFINITIONS	  	1
			
	 ARTICLE 2
	  	PURCHASE AND SALE OF SHARES	  	6
			
	 ARTICLE 3
	  	REPRESENTATIONS AND WARRANTIES OF TERCICA	  	7
			
	 ARTICLE 4
	  	REPRESENTATIONS AND WARRANTIES OF IPSEN	  	13
			
	 ARTICLE 5
	  	COVENANTS	  	15
			
	 ARTICLE 6
	  	CONDITIONS TO CLOSING	  	17
			
	 ARTICLE 7
	  	TERMINATION	  	19
			
	 ARTICLE 8
	  	MISCELLANEOUS	  	20
		
	 SCHEDULES
	  	
		
	 Disclosure Schedule
	  	
		
	 EXHIBITS
	  	
		
	 Exhibit A – Amendment No. 1 to Registration Rights Agreement
	  	

 THIS COMMON STOCK PURCHASE AGREEMENT (the Agreement) is made as of
July 9, 2007, 
 BETWEEN: 
  

	(1)	TERCICA, INC., a corporation organized under the laws of the State of Delaware, with its principal offices at 2000 Sierra Point Parkway, Suite 400, Brisbane, California 94005
(Tercica); 

  

	(2)	IPSEN, S.A., a société anonyme organized under the laws of France with its registered address at 42, rue du Docteur Blanche, 75016 Paris, France
(Ipsen); and 

  

	(3)	solely for the purposes of Sections 1.1, 1.2, 4.3, 7 and 8 hereof, SURAYPHARM, a Société par Actions Simplifiée organized under the laws of France
with its registered address at 42, rue du Docteur Blanche, 75016 Paris, France (Suraypharm). 

 IN
CONSIDERATION of the mutual covenants contained in this Agreement, the parties hereto agree as follows: 
 ARTICLE 1

 DEFINITIONS 
 1.1 In this
Agreement, the following words and expressions have the following meaning: 
  

	(a)	Affiliate means, in respect of any Person, any other Person that is directly or indirectly controlling, controlled by or under common control with such Person or any
of its Subsidiaries, and the term “control” (including the terms “controlled by” and “under common control with”) means having, directly or indirectly, the power to direct or cause the direction of the management and
policies of a Person, whether through ownership of voting securities or by contract or otherwise. 

  

	(b)	Affiliation Agreement means that certain Affiliation Agreement, dated as of October 13, 2006, by and among Tercica, Ipsen and Suraypharm.

  

	(c)	Business Day means a day, other than Saturday, Sunday or other day on which commercial banks in New York, New York are authorized or required by Law to
close. 

  

	(d)	Closing shall have the meaning ascribed to it in Section 2.2. 

  

	(e)	 Closing Bid Price means the closing consolidated bid price of the Common Stock as reported by NASDAQ’s Market Intelligence Desk as
of 4:00 P.M. Eastern Time on, as applicable, (i) the trading date immediately prior to the Execution Date if 

  

 Page 1 

	 	 
this Agreement is executed prior to 4:00 P.M. Eastern Time on the Execution Date or (ii) the Execution Date if this Agreement is executed on or after
4:00 P.M. Eastern Time on the Execution Date. 

  

	(f)	Closing Date means the date on which the Closing occurs. 

  

	(g)	Combination Product Agreement means that certain Combination Product Development and Commercialization Agreement, dated as of July 6, 2007, by and
between Tercica and Genentech, as the same may be amended from time to time. 

  

	(h)	Common Stock means Tercica’s common stock, par value $0.001 per share. 

  

	(i)	Convertible Note means that certain First Senior Convertible Promissory Note issued to Ipsen and dated October 13, 2006, as the same may be amended from time to
time. 

  

	(j)	Disclosure Schedule means that certain disclosure schedule delivered by Tercica to Ipsen concurrently herewith and identified as the “Disclosure Schedule.”

  

	(k)	Effective Date shall have the meaning ascribed to it in Section 16.15(b) of the Combination Product Agreement. 

  

	(l)	Exchange Act means the Securities Exchange Act of 1934, as amended. 

  

	(m)	Execution Date means July 9, 2007. 

  

	(n)	First Genentech Closing shall have the meaning ascribed to the term “First Closing” in Section 2.2(a)(i) of the Genentech Purchase Agreement.

  

	(o)	First Genentech Closing Date shall mean the date of the First Genentech Closing. 

  

	(p)	GAAP means United States generally accepted accounting principles. 

  

	(q)	Genentech means Genentech, Inc., a corporation organized under the laws of the State of Delaware. 

  

	(r)	Genentech Per Share Price means $5.645. 

  

	(s)	Genentech Purchase Agreement means that certain Common Stock Purchase Agreement, dated of even date herewith, by and between Tercica and Genentech, as the same may be
amended from time to time. 

  

	(t)	Governmental Entities means any foreign or United States federal, state, county, local municipal or other governmental, regulatory or administrative authority, agency,
commission or other instrumentality, any court, tribunal or arbitral body with competent jurisdiction, or any national securities exchange or automated quotation service. 

  

 Page 2 

	(u)	HSR Act means the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the regulations and rules issued pursuant to that Act.

  

	(v)	Intellectual Property Rights means all of the rights arising from or in respect of the following, whether protected, created or arising under the Laws of
the United States or any foreign jurisdiction: (A) (i) any valid and enforceable letters patent granted by, or a patent application filed with any applicable supranational, national, federal, state or local regulatory agency, department,
bureau or other governmental entity of any country or jurisdiction worldwide that is charged with reviewing and/or issuing patents, including, without limitation, any extension, registration, confirmation, reissue, continuation, division,
continuation-in-part, re-examination, supplementary protection certificate or renewal thereof, or any foreign equivalent of any of the foregoing and (ii) any certificates of invention for a U.S. letters patent, or any foreign equivalent thereof
(collectively, Patents); (B) trademarks, service marks, trade names (whether registered or unregistered), service names, industrial designs, brand names, brand marks, trade dress rights, internet domain names,
identifying symbols, logos, emblems, signs or insignia, and including all goodwill associated with the foregoing, (C) copyrights, whether registered or unregistered (including copyrights in computer software programs), mask work rights and
registrations and applications therefor (collectively, Copyrights); (D) confidential and proprietary information, or non-public processes, designs, specifications, technology, know-how, techniques, formulas,
inventions, concepts, trade secrets, discoveries, ideas and technical data and information, in each case excluding any rights in respect of any of the foregoing that comprise or are protected by Copyrights or Patents (collectively,
Trade Secrets); and (E) all applications, registrations and permits related to any of the foregoing clauses (A) through (D). 

  

	(w)	Key Employee shall have the meaning ascribed to it in Section 3.9(c) of this Agreement. 

  

	(x)	Knowledge means, with respect to a Person, the actual knowledge of any of its executive officers. 

  

	(y)	Law means any judgment, order, statute, law (including common law), ordinance, rule, permit or regulation applicable to a Person or its business,
properties or assets. 

  

	(z)	Letter Agreement means that certain letter agreement, dated as of July 9, 2007, by and between Tercica and Genentech amending that certain License
and Collaboration Agreement, effective as of April 15, 2002, as amended, and regarding that certain International License and Collaboration Agreement, effective as of July 25, 2003, as amended. 

  

	(aa)	 Material Adverse Effect, with respect to a Person, means: (i) a material adverse effect on the financial condition, properties,
business or results of operations of such Person and its Subsidiaries, taken as a whole or (ii) a material adverse effect 

  

 Page 3 

	 	 
on the ability of such Person to perform its material obligations under the Purchase Documents; provided that none of the following shall be deemed
either alone or in combination to constitute, and none of the following shall be taken into account in determining whether there has been or would be, a Material Adverse Effect on any Person: (a) any adverse effect resulting from or arising out
of general economic conditions to the extent that such conditions do not disproportionately affect such Person and its Subsidiaries, taken as a whole, (b) any adverse effect resulting from or arising out of general conditions in the industries
in which such Person and its Subsidiaries operate to the extent that such conditions do not disproportionately affect such Person and its Subsidiaries, taken as a whole, (c) any adverse effect resulting from or arising out of any natural
disaster or any acts of terrorism, sabotage, military action or war or any escalation or worsening thereof to the extent they do not disproportionately affect such Person and its Subsidiaries, taken as a whole, (d) any adverse change in
reported financial results to the extent such change results from or arises out of changes (after the date of this Agreement) in GAAP or applicable Laws, (e) a reduction in market price of such Person’s common stock on the stock markets on
which it trades to the extent such reduction is not related to factors that individually or in the aggregate would reasonably be expected to have a Material Adverse Effect, or (f) any adverse effect resulting from or arising out of the failure
of such Person to achieve projected financial results except to the extent that such failure is related to operational issues or other factors that individually or in the aggregate would reasonably be expected to have a Material Adverse Effect.

  

	(bb)	NASDAQ Rules means the rules of The NASDAQ Stock Market LLC. 

  

	(cc)	Order shall have the meaning ascribed to it in Section 6.1(h) of this Agreement. 

  

	(dd)	Per Share Price means the Genentech Per Share Price; provided, however, that if Tercica does not receive a Staff Interpretive Letter prior to the
Closing that would permit Ipsen to purchase the Shares at a price per share equal to the Genentech Per Share Price (assuming the Genentech Per Share Price is less than the Closing Bid Price) without Tercica stockholder approval under the NASDAQ
Rules, then the Per Share Price shall in all cases mean the Closing Bid Price. 

  

	(ee)	Person means any individual or any corporation, limited liability company, partnership, trust, association or other entity of any kind. 

  

	(ff)	Purchase Documents means this Agreement and the RRA Amendment. 

  

	(gg)	Purchase Price means the dollar amount obtained by multiplying the Shares by the Per Share Price. 

  

	(hh)	RRA Amendment means Amendment No. 1 to that certain Registration Rights Agreement, dated as of October 13, 2006, by and between Tercica, Ipsen
and Suraypharm substantially in the form attached hereto as Exhibit A. 

  

 Page 4 

	(ii)	SEC means the United States Securities Exchange Commission. 

  

	(jj)	Securities Act means the Securities Act of 1933, as amended. 

  

	(kk)	SEC Website means the website maintained by the SEC at http://www.sec.gov. 

  

	(ll)	Shares shall mean five hundred nineteen thousand one hundred one (519,101) shares of Common Stock. 

  

	(mm)	Staff Interpretive Letter shall have the meaning ascribed to it in Section 5.1 of this Agreement. 

  

	(nn)	Subsidiary means any corporation or other organization, whether incorporated or unincorporated, of which (i) fifty percent (50%) or more of the securities
(or other interests having by their terms ordinary voting power to elect a majority of the board of directors or equivalent governing body of such corporation or other organization) is directly or indirectly owned or controlled by the relevant
Person or (ii) the relevant Person (or any other subsidiary of the relevant Person) is a general partner. 

  

	(oo)	Tercica Balance Sheet means the balance sheet of Tercica contained in the Tercica SEC Report for the quarter ended March 31, 2007.

  

	(pp)	Tercica Financials means each of the financial statements (including, in each case, any related notes thereto) contained in the Tercica SEC Reports.

  

	(qq)	Tercica SEC Reports means Tercica’s most recent annual report on Form 10-K and all reports filed by Tercica pursuant to Section 13(a) or
Section 15(d) of the Exchange Act subsequent to the filing of Tercica’s most recent annual report on Form 10-K. 

  

	(rr)	Third Party means any other Person other than Tercica, Suraypharm or Ipsen. 

  

	(ss)	Transaction Documents means this Agreement, the RRA Amendment, the Combination Product Agreement, the Genentech Purchase Agreement, the Letter Agreement
and any other document or instrument contemplated hereby or thereby. 

  

	(tt)	Warrant means that certain Warrant to purchase Common Stock issued to Ipsen and dated October 13, 2006. 

 1.2 Interpretation and Construction. In this Agreement: 
  

	(a)	the definitions of terms herein shall apply equally to the singular and plural forms of the terms defined; 

  

	(b)	whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms; 

  

 Page 5 

	(c)	the words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”; 

 

	(d)	the word “will” shall be construed to have the same meaning and effect as the word “shall”; 

  

	(e)	any definition of or reference to any contract, agreement, document, instrument, commitment, license, undertaking or other record herein shall be construed as referring to such
contract, agreement, document, instrument, commitment, license, undertaking or other record as from time to time amended, supplemented, restated or otherwise modified; 

  

	(f)	any reference herein to any Person shall be construed to include such Person’s successors and permitted assigns; 

  

	(g)	the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any
particular provision hereof; and 

  

	(h)	unless the context otherwise requires, all references herein to Sections, Exhibits and Schedules shall be construed to refer to Sections, Exhibits and Schedules to, this Agreement.

 ARTICLE 2 
 PURCHASE AND SALE OF SHARES 
 2.1 Agreement to Issue, Sell and Purchase the Shares. Subject to the terms and the conditions hereof,
Tercica will issue and sell to Ipsen, and Ipsen will purchase from Tercica, upon the terms and conditions hereinafter set forth, the Shares for the Purchase Price. 
 2.2 Closing, Delivery and Payment. 
  

	(a)	Closing. Subject to the satisfaction or waiver (in accordance with the terms of this Agreement) of all of the conditions set forth in Article 6, the closing of the sale and
purchase of the Shares (the Closing) shall occur at the offices of Cooley Godward Kronish LLP (at the address set forth in the notice provisions of Section 8.8 below), or at such other place as agreed between the
Tercica and Ipsen, on the First Genentech Closing Date, or, if all other conditions contained in Article 6 have not been satisfied or waived on the First Genentech Closing Date in accordance with the terms of this Agreement, the third Business Day
after the date on which all of the conditions contained in Article 6 have been satisfied or waived in accordance with the terms of this Agreement, or at such other place, time or date as may be mutually agreed to in writing by Ipsen and Tercica.

  

 Page 6 

	(b)	Closing Deliverables. At the Closing, Tercica shall deliver or cause to be conveyed by Tercica’s transfer agent for delivery to Ipsen one or more stock certificates in
respect of the Shares in the name of Ipsen (including, if Tercica has caused such stock certificates to be conveyed by Tercica’s transfer agent, evidence reasonably satisfactory to Ipsen that Tercica has provided irrevocable delivery
instructions in respect of such stock certificates to Tercica’s transfer agent), and Ipsen shall deliver to Tercica (or cause an Affiliate to deliver to Tercica) by wire transfer of same day funds the amount of the Purchase Price.

  

	(c)	Proceedings at the Closing. All actions to be taken and all documents not attached as exhibits to this Agreement to be executed and delivered by Tercica in connection with
the consummation of the transactions contemplated at the Closing shall be reasonably satisfactory in form and substance to Ipsen and its counsel, and all actions to be taken and all documents not attached as exhibits to this Agreement to be executed
and delivered by Ipsen in connection with the consummation of the transactions contemplated at the Closing shall be reasonably satisfactory in form and substance to Tercica and its counsel. All actions to be taken and all documents to be executed
and delivered by all parties hereto at the Closing shall be deemed to have been taken and executed and delivered simultaneously, and no action shall be deemed taken nor any document executed or delivered until all have been taken, executed, and
delivered. The Closing shall be deemed to have occurred when all conditions have been met or waived and all deliverables have been delivered. 

 ARTICLE 3 
 REPRESENTATIONS AND WARRANTIES OF TERCICA 
 Tercica hereby represents and warrants to Ipsen that, except as set forth in the Tercica SEC Reports and the Disclosure Schedule, the following are true and correct:

 3.1 Organization and Qualification. Tercica is a corporation duly organized, validly existing and in good standing under the laws of the State of
Delaware and has all requisite corporate power and authority to own, lease and operate its properties and to carry on its business as presently conducted. Tercica is qualified to do business as a foreign corporation in each jurisdiction in which
qualification is required except where failure to be so qualified would not reasonably be expected to have a Material Adverse Effect on Tercica. 
 3.2
Authorized Capital Stock. Tercica’s authorized capital stock consists of (i) 100,000,000 shares of Common Stock, of which as of March 31, 2007 (A) 50,162,610 shares of Common Stock were issued and outstanding,
(B) 1,683,729 shares of Common Stock were reserved for future issuance under Tercica’s 2004 Stock Plan, 2002 Stock Plan, 2002 Executive Stock Plan and 2004 Employee Stock Purchase Plan (the “Plans”), (C) 5,196,012 shares of
Common Stock were reserved for issuance upon the exercise of outstanding options granted under the Plans, (D) 8,405,524 shares of Common Stock were 

  

 Page 7 

 
reserved for issuance upon the exercise of an outstanding warrant and the conversion of a senior convertible promissory note, in each case issued to Ipsen
and (E) 260,000 shares were reserved for issuance upon the exercise of an outstanding warrant issued to Kingsbridge Capital Limited, and (ii) 5,000,000 shares of Preferred Stock, 1,000,000 of which are designated Series A Junior
Participating Preferred Stock, none of which are issued and outstanding. Tercica has not issued any shares since March 31, 2007 other than pursuant to employee or director equity incentive plans or purchase plans approved by the Board of
Directors of Tercica. The issued and outstanding shares of Common Stock have been duly authorized and validly issued, are fully paid and nonassessable, have been issued in compliance with all federal and state securities laws and were not issued in
violation of or subject to any preemptive rights or other rights to subscribe for or purchase securities. Tercica does not have outstanding any options to purchase, or any preemptive rights or other rights to subscribe for or to purchase, any
securities or obligations convertible into, or any contracts or commitments to issue or sell, shares of its capital stock and there are no agreements or commitments obligating Tercica to repurchase, redeem, or otherwise acquire capital stock or
other securities of Tercica. There are no agreements to which Tercica is a party or by which it is bound with respect to the voting (including voting trusts or proxies), registration under the Securities Act, or sale or transfer (including
agreements relating to pre-emptive rights, rights of first refusal, co-sale rights or “drag-along” rights) of any securities of Tercica. 
 3.3
No Interest in any Person. Tercica does not own, directly or indirectly, any capital stock, membership interests, partnership interest, joint venture interest or other equity interest (or interest that is convertible into, or exchangeable or
executable for, any of the foregoing) in any Person. 
 3.4 Issuance, Sale and Delivery of Shares. The issuance, sale and delivery of the Shares have
been duly authorized by all necessary corporate action and, when issued, delivered and paid for in accordance with the terms hereof, will be duly authorized, validly issued, fully paid and nonassessable. No further approval or authorization of the
Board of Directors of Tercica, the stockholders of Tercica or any other Person (other than as contemplated in Section 5.1 hereof) will be required for the issuance and sale of any Shares to be issued and sold by Tercica as contemplated herein.

 3.5 Authorization; Due Execution, Delivery and Performance of this Agreement. Tercica has full legal right, corporate power and authority to enter
into the Purchase Documents, issue the Shares and perform the transactions contemplated by the Purchase Documents. Each of the Purchase Documents will upon delivery be duly authorized, executed and delivered by Tercica. The making, issuing and
performance of the Purchase Documents by Tercica and the consummation of the transactions therein contemplated will not (i) violate any provision of the organizational documents of Tercica, (ii) result in the creation of any lien, charge,
security interest or encumbrance upon any assets of Tercica pursuant to the terms or provisions of, or will not conflict with, result in the breach or violation of, or constitute, either by itself or upon notice or the passage of time or both, a
default under, or give any person any rights of termination, amendment, acceleration or cancellation of, any agreement, commitment, mortgage, deed of trust, lease, franchise, 

  

 Page 8 

 
license, indenture, permit or other instrument (A) to which Tercica is a party or by which Tercica or its properties may be bound or affected and
(B) which individually or in the aggregate would be reasonably likely to result in a material liability of Tercica or have a Material Adverse Effect, or (iii) violate any statute or any authorization, judgment, decree, order, rule or
regulation of any court or any regulatory body, administrative agency or other governmental body applicable to Tercica or any of its properties in a manner that would reasonably be expected to have a Material Adverse Effect. No consent, approval,
authorization or other order of any court, regulatory body, administrative agency or other governmental body is required for the execution and delivery by Tercica of the Purchase Documents or the consummation by Tercica of the transactions
contemplated thereby, other than such as have been made or obtained and except for compliance with the Blue Sky laws and federal securities laws applicable to the offering of the Shares. Upon their execution and delivery, and assuming the valid
execution thereof by Ipsen and Suraypharm, the Purchase Documents will constitute the valid and binding obligations of Tercica, enforceable in accordance with their respective terms, except as enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws affecting creditors’ and contracting parties’ rights generally and except as enforceability may be subject to general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or at law). 
 3.6 Valid Offering. Assuming the accuracy of the representations and warranties of Ipsen set forth
in Article 4, the offer, sale, and issuance of the Shares will be exempt from the registration requirements of the Securities Act and will have been registered or qualified (or are exempt from registration and qualification) under the
registration or qualification requirements of all applicable state securities Laws. 
 3.7 No Defaults. Tercica is not in violation or default of any
provision of its certificate of incorporation or bylaws, or other organizational documents. Except as to defaults, violations and breaches which, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect on
Tercica, Tercica is not in breach of or default with respect to any provision of any agreement, judgment, decree, order, mortgage, deed of trust, lease, franchise, license, indenture, permit or other instrument to which it is a party or by which it
or any of its properties are bound and has not received any written notice of termination under any such documents, which termination would reasonably be expected to have a Material Adverse Effect on Tercica; and there does not exist any state of
fact which, with notice or lapse of time or both, would constitute an event of default on the part of Tercica as defined in such documents, except such defaults which individually or in the aggregate would not reasonably be expected to have a
Material Adverse Effect on Tercica. 
 3.8 No Material Change. Between March 31, 2007 and the date hereof, (i) Tercica has not incurred,
other than in the ordinary course of business, any material liabilities or obligations which would be required under GAAP to be set forth on Tercica’s balance sheet, except for legal, accounting and other costs in connection with the
negotiation, execution and delivery by Tercica of the Transaction Documents, (ii) Tercica has not sustained any material loss or interference with its business or properties from fire, flood, 

  

 Page 9 

 
windstorm, accident or other calamity, (iii) Tercica has not paid or declared any dividends or other distributions with respect to its capital stock,
(iv) Tercica is not in default in the payment of principal or interest on any outstanding debt obligations, and (v) there have been no events or occurrences which, individually or in the aggregate, have had or would reasonably be expected
to have a Material Adverse Effect on Tercica. 
  

	3.9	Intellectual Property. 

  

	(a)	To the best of Tercica’s Knowledge, the use, practice or other commercial exploitation of the Intellectual Property Rights owned by or licensed to Tercica and the operation of
Tercica’s business as presently conducted does not infringe, constitute an unauthorized use of or misappropriate any rights owned or controlled by any third Person including Intellectual Property Rights of any third Person in a way that would
be reasonably likely to have a Material Adverse Effect on Tercica. Tercica is not a party to or the subject of any pending or, to Tercica’s Knowledge, threatened suit, action, investigation or proceeding which involves a claim against Tercica,
of infringement, unauthorized use, or violation of any Intellectual Property Rights of any Person, or challenges the ownership, use, validity or enforceability of any Intellectual Property Rights or contests the right of Tercica to use, exercise,
license, transfer or dispose of any Intellectual Property Rights owned by or licensed to Tercica, or any products, processes or materials covered thereby in any manner. 

  

	(b)	No Person (including employees and former employees of Tercica), to Tercica’s Knowledge, is infringing, violating, misappropriating or otherwise misusing any Intellectual
Property Rights owned by or licensed to Tercica, and Tercica has not made any such claims against any Person (including employees and former employees of Tercica). 

  

	(c)	No Trade Secret or any other non-public, proprietary information which is material to the business of Tercica as presently conducted has been authorized to be disclosed or, to
Tercica’s Knowledge, has been actually disclosed by Tercica to any employee or any third Person other than (i) pursuant to a confidentiality or non-disclosure agreement restricting the disclosure and use of the Intellectual Property Rights
owned by or licensed to Tercica, or (ii) to such employees or third persons who otherwise have a duty of confidentiality to Tercica. Each current and former Key Employee has entered into an agreement containing appropriate confidentiality and
invention assignment provisions. For purposes of this Section 3.9(c), Key Employee means any officer of Tercica as well as any employee of Tercica who either alone or in concert with others develops any Intellectual
Property Rights owned by or licensed to Tercica. 

  

	(d)	Tercica has taken all commercially reasonable steps to protect and preserve the confidentiality and value of all Intellectual Property Rights and any other confidential information
owned by or licensed to Tercica. 

  

 Page 10 

	3.10	Compliance. 

  

	(a)	Tercica has complied in all material respects with each Law binding on it or on any of its assets or properties and is not currently in violation of any such Law, in the case of
each of the foregoing, the noncompliance with which would reasonably be expected to result in Material Adverse Effect on Tercica. Tercica has not received any written notices or orders of noncompliance issued to Tercica under or in respect of any
such Law. 

  

	(b)	Tercica has all franchises, permits, licenses, consents and other governmental or regulatory authorizations and approvals necessary for the conduct of its business as presently
conducted, except for such of the foregoing, the failure to possess which, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect on Tercica. 

 3.11 Litigation. Tercica has not received notice of the assertion of, been threatened with or otherwise gained Knowledge of facts reasonably likely to result in,
any action, suit, proceeding, claim, arbitration or investigation, before any Governmental Entity against Tercica which would reasonably be expected to result in a material liability to, or have a Material Adverse Effect on, Tercica in the event of
an adverse outcome or that in any manner challenges or seeks to or would otherwise prevent, enjoin, alter or delay any of the transactions contemplated by the Purchase Documents. There is no order of any governmental entity binding on Tercica or any
of its assets or properties. 
 3.12 Labor. Tercica is not a party to any labor or collective bargaining agreement, and no employees of Tercica are
represented by any labor organization. Within the preceding three years, there have been no representation or certification proceedings, or petitions seeking a representation proceeding, pending or, to Tercica’s Knowledge, threatened to be
brought or filed with the National Labor Relations Board or any other labor relations tribunal or authority. Within the preceding three years, to Tercica’s Knowledge, there have been no organizing activities involving Tercica in respect of any
group of employees of Company. There are no strikes, work stoppages, slowdowns, lockouts, material arbitrations, or material grievances or other material labor disputes pending or, to Tercica’s Knowledge, threatened against or involving
Tercica. 
 3.13 Corrupt Practices. Neither Tercica nor, to Tercica’s Knowledge, any agent or other person acting on behalf of Tercica, has
(i) directly or indirectly, used any corporate funds for unlawful contributions, gifts, entertainment or other unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment to foreign or domestic
government officials or employees or to foreign or domestic political parties or campaigns from corporate funds, (iii) failed to disclose fully any contribution made by Tercica or made by any person acting on its behalf and of which Tercica is
aware in violation of law, or (iv) violated in any material respect any provision of the Foreign Corrupt Practices Act of 1977, as amended. 
  

 Page 11 

	3.14	SEC Filings; Financial Statements. 

  

	(a)	Since January 1, 2007, Tercica has filed all forms, reports and documents required to be filed with the SEC, except to the extent that failure to so file would not reasonably
be expected to be material to an investor. Such filings are available to Ipsen on the SEC Website. In addition, all exhibits to the Tercica SEC Reports are available on the SEC Website, except to the extent of Confidential Treatment Requests granted
by the SEC. All documents required to be filed as exhibits to the Tercica SEC Reports have been so filed, and all material contracts that were filed as exhibits to Tercica’s most recent Form 10-K filing are in full force and effect, except
those which have expired in accordance with their terms, and Tercica is not in default thereunder, except where any such default has not resulted in or would not reasonably be expected to result in a loss of any material right granted to Tercica
thereunder. As of their respective filing dates, the Tercica SEC Reports (i) complied in all material respects with the requirements of the Exchange Act and the rules and regulations of the SEC thereunder applicable to such Tercica SEC Reports,
and (ii) did not at the time they were filed (or if amended or superseded by a filing prior to the date of this Agreement, then on the date of such filing) contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. 

  

	(b)	The Tercica Financials (i) complied as to form in all material respects with applicable accounting requirements and with the published rules and regulations of the SEC with
respect thereto as of their respective dates, (ii) were prepared in accordance with GAAP applied on a consistent basis throughout the periods involved and consistent with each other (except as may be indicated in the notes thereto or, in the
case of unaudited interim financial statements, as may be permitted by the SEC on Form 10-Q under the Exchange Act), and (iii) fairly presented the financial position of Tercica as at the respective dates thereof and the consolidated results of
operations and cash flows for the periods indicated, except that the unaudited interim financial statements were reasonably expected to be subject to normal and recurring year-end adjustments which would not be material in amount. There has been no
material change in Tercica’s accounting policies except as described in the notes to the Tercica Financials. As of the date of the Tercica Financials, Tercica did not have any obligations or liabilities (absolute, accrued, contingent or
otherwise) of any nature required to be disclosed on a balance sheet or in the related notes to the financial statements prepared in accordance with GAAP which are, individually or in the aggregate, material to the business, results of operations or
financial condition of Tercica, except liabilities (x) provided for in the Tercica Balance Sheet or (y) which would not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect on Tercica.

 3.15 Corporate Records. Tercica has delivered or made available to Ipsen true and complete copies of all corporate records requested
in writing by Ipsen in connection with its decision to purchase the Shares. 
  

 Page 12 

 3.16 NASDAQ Compliance and Listing. The Common Stock is registered pursuant to Section 12(b) of the Exchange
Act and is listed on The NASDAQ Global Market, and Tercica has taken no action that is designed to, or is likely to have the effect of, terminating the registration of the Common Stock under the Exchange Act or delisting the Common Stock from The
NASDAQ Global Market. Tercica shall comply in all material respects with all requirements of the NASDAQ Stock Market with respect to the listing of the Shares on The NASDAQ Global Market. 
 3.17 Reservation of Common Stock. As of the date hereof, Tercica has available (and will keep available at all times), free of preemptive rights and other similar
contractual rights of stockholders, shares of Common Stock for the purpose of enabling Tercica to satisfy any obligation to issue the Shares. 
 3.18
Broker’s Fee. There are no brokers or finders entitled to compensation in connection with the sale of the Shares to Ipsen. 
 ARTICLE 4 
 REPRESENTATIONS AND WARRANTIES OF IPSEN 
 Ipsen hereby represents and warrants to Tercica as follows: 
 4.1
Organization and Qualification. Ipsen is a société anonyme duly organized, validly existing and in good standing under the laws of France and, together with its Subsidiaries, has all requisite corporate power and
authority to own, lease and operate its and its Subsidiaries’ properties and to carry on its and its Subsidiaries’ business as presently conducted. 
 4.2 Investment Representations. Ipsen is knowledgeable, sophisticated and experienced in making, and is qualified to make, decisions with respect to investments in securities, including the Shares, and (without limiting any
representation or warranty provided by Tercica herein) has requested, received, reviewed and considered all information it deems relevant in making an informed decision to purchase the Shares. Ipsen is acquiring the Shares for its own account for
investment only and with no present intention of distributing any of such Shares or any arrangement or understanding with any other persons regarding the distribution of such Shares within the meaning of Section 2(11) of the Securities Act.
Ipsen is an “accredited investor” within the meaning of Rule 501 of Regulation D promulgated under the Securities Act. Ipsen understands that the Shares have not been registered under the Securities Act or registered or qualified under any
state securities laws in reliance on specific exemptions therefrom, which exemptions may depend upon, among other things, the bona fide nature of Ipsen’s investment intent as expressed herein. 
 4.3 Authorization; Due Execution, Delivery and Performance of this Agreement. Each of Ipsen and Suraypharm has full legal right, corporate power and authority to
enter into 

  

 Page 13 

 
the Purchase Documents and perform the transactions contemplated thereunder. Each of the Purchase Documents upon delivery will be duly authorized, executed
and delivered by Ipsen and Suraypharm. The making, issuing and performance of the Purchase Documents by Ipsen and Suraypharm, and the consummation of the transactions therein contemplated will not: (i) violate any provision of the
organizational documents of either Ipsen or Suraypharm, (ii) violate any statute or any authorization, judgment, decree, order, rule or regulation of any court or any regulatory body, administrative agency or other Governmental Entity
applicable to Ipsen or Suraypharm, or (iii) violate any material contract, agreement, or instrument to which Ipsen is a party or by which it is bound, that would reasonably be expected to have a material adverse effect on Ipsen’s ability
to perform its obligations under the Purchase Documents. No consent, approval, authorization or other order of any court, regulatory body, administrative agency or other governmental body is required for the execution and delivery by either Ipsen or
Suraypharm of the Purchase Documents or the consummation by either Ipsen or Suraypharm of the transactions contemplated thereby, other than such as have been made or obtained. Upon their execution and delivery, and assuming the valid execution
thereof by Tercica and the other parties thereto, the Purchase Documents will constitute the valid and binding obligations of each of Ipsen and Suraypharm enforceable in accordance with their respective terms, except as enforceability may be limited
by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ and contracting parties’ rights generally and except as enforceability may be subject to general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law). 
 4.4 No Legal or Tax Advice. Ipsen understands that nothing in the
Purchase Documents, the Tercica SEC Reports or any other materials presented to Ipsen in connection with the purchase and sale of the Shares constitutes legal or tax advice. Ipsen has consulted such legal and tax advisors as it, in its sole
discretion, has deemed necessary or appropriate in connection with its purchase of the Shares. Ipsen understands that it (and not Tercica) shall be responsible for its own tax liabilities that may arise as a result of this investment or the
transactions contemplated by the Purchase Documents. 
 4.5 No Defaults. Neither Ipsen nor any of its Subsidiaries is in violation or default of any
provision of its organizational documents or any agreement, judgment, decree, order, mortgage, deed of trust, lease, franchise, license, indenture, permit or other instrument to which it is a party or by which it or any of its properties are bound,
and has not received any written notice of termination under any such material documents, and there does not exist any state of fact which, with notice or lapse of time or both, would constitute an event of default on the part of Ipsen or any of its
Subsidiaries as defined in such documents, in each case which would reasonably be expected to have a material adverse effect on Ipsen’s ability to perform its obligations under the Purchase Documents. 
 4.6 Compliance. Ipsen and each of its Subsidiaries have complied in all material respects with each Law binding on it or on any of its assets or properties and is
not currently in violation of any such Law, and there have been no written notices or orders of noncompliance issued to Ipsen or its Subsidiaries under or in respect of any such Law, in each case the noncompliance with which would reasonably be
expected to have a material adverse effect on Ipsen’s ability to perform its obligations under the Purchase Documents. 
  

 Page 14 

 4.7 Litigation. Neither Ipsen nor any of its Subsidiaries has received written notice of the assertion of, or to
the knowledge of Ipsen, been threatened with any action, suit, proceeding, claim, arbitration or investigation before any Governmental Entity against Ipsen or any of its Subsidiaries or order of any Governmental Entity binding on Ipsen, its
Subsidiaries or any of their respective assets or properties, in the case of all the foregoing, which would reasonably be expected to have a material adverse effect on Ipsen’s ability to perform its obligations under the Purchase Documents.

 4.8 Restrictive Legend. Ipsen understands that, until such time as a registration statement covering the Shares has been declared effective or the
Common Stock associated with such Shares may be sold pursuant to Rule 144 under the Securities Act without any restriction as to the number of securities as of a particular date that can then be immediately sold, the Shares shall bear a restrictive
legend in substantially the following form (and a stop-transfer order may be placed against transfer of the certificates for the Shares): 
 “THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THE SECURITIES MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER
SAID ACT, OR AN OPINION OF COUNSEL, IN FORM, SUBSTANCE AND SCOPE REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR UNLESS SOLD PURSUANT TO RULE 144 UNDER SAID ACT.” 
 ARTICLE 5 
 COVENANTS

 5.1 Staff Interpretive Letter. As promptly as practicable following the Execution Date, Tercica shall request, pursuant to NASDAQ Rule 4550, a
written interpretation by The NASDAQ Stock Market LLC with respect to whether Tercica stockholder approval would be required under the NASDAQ Rules in order for Ipsen to purchase the Shares at a price per share equal to the Genentech Per Share Price
(assuming the Genentech Per Share Price is less than the Closing Bid Price) (the Staff Interpretive Letter). Tercica agrees to bear all of its costs associated with the Staff Interpretive Letter, including the fees provided for under NASDAQ
Rule 4550. 
  

	5.2	Cooperation. 

  

	(a)	Each party hereto shall cooperate with the other to fulfill the closing conditions set forth in Article 6, including delivery of all documents set forth in such conditions.

  

 Page 15 

	(b)	Without limiting the foregoing, each party hereto shall take all commercially reasonable steps necessary or desirable, and proceed diligently and in good faith and shall use all
commercially reasonable efforts to obtain, as promptly as practicable, all authorizations, consents, orders and approvals of all Governmental Entities that may be or become necessary for such party’s execution and delivery of, and the
performance of its obligations pursuant to, this Agreement and the other Purchase Documents, including, if applicable, under the HSR Act. Subject to each party’s determination of the need to file under the HSR Act, each party hereto shall make
all necessary filings to be made by them, and thereafter make any other required or appropriate submissions, with respect to this Agreement, the other Purchase Documents and the transactions contemplated hereby and thereby required under the HSR Act
and each party shall make, as soon as reasonably practicable, all other necessary filings to be made by it, and thereafter make any other required or appropriate submissions, with respect to this Agreement, the other Purchase Documents and the
transactions contemplated hereby and thereby. Each party will cooperate fully (including, without limitation, by providing all information and reasonable assistance as the other party requests in connection with its preparation of any filing or
submission that is necessary under the HSR Act) with the other parties in promptly seeking to obtain all such authorizations, consents, orders and approvals. 

  

	(c)	Each party hereto shall promptly inform the other party of any communication from any Governmental Entity regarding any of the transactions contemplated by this Agreement. If any
party or Affiliate thereof receives a request for additional information or documentary material from any such Governmental Entity in respect of the transactions contemplated hereby, then such party will endeavor in good faith to make, or cause to
be made, as soon as reasonably practicable and after consultation with the other party, an appropriate response in compliance with such request. 

 5.3 Notice of Certain Events. Each party shall, promptly after it obtains Knowledge thereof, notify the other of: 
  

	(a)	any notice or other communication from any Person alleging that the consent of such Person is or may be required in connection with the transactions contemplated by the Purchase
Documents; 

  

	(b)	any notice or other communication from any Governmental Entity in connection with the review, clearance or approval of the transactions contemplated by the Purchase Documents; and

  

	(c)	any legal proceeding commenced or threatened against, relating to or involving or otherwise affecting such party that relates to the consummation of the transactions contemplated by
the Purchase Documents. 

  

 Page 16 

 ARTICLE 6 
 CONDITIONS TO CLOSING 
 6.1 Tercica’s obligations set forth in Section 2.2 of this Agreement shall be
subject to the following conditions, any one or more of which may be waived by Tercica (to the extent legally permissible): 
  

	(a)	Representations and Warranties True. The representations and warranties made by Ipsen in Article 4 hereof shall be true and correct in all material respects (and any
representations and warranties qualified by materiality shall be true and correct in all respects) as of the date of this Agreement, except to the extent such representations and warranties expressly related to any earlier date, in which case such
representations and warranties shall be true and correct in all material respects on and as of such earlier date. 

  

	(b)	Compliance with Covenants. Ipsen shall have performed and complied in all material respects with all covenants and agreements contained in this Agreement that are required to
be performed or complied with by it on or before the Closing. 

  

	(c)	Effective Date. The Effective Date shall have occurred. 

  

	(d)	First Genentech Closing. The First Genentech Closing shall have been consummated. 

  

	(e)	Litigation. No action, suit or proceeding shall have been initiated or threatened with the probable or reasonably likely effect of enjoining or preventing the consummation of
the transactions contemplated hereby and by the RRA Amendment or seeking (with the probable or reasonably likely effect of receiving) material damages on account the consummation of the transactions contemplated hereby and by the RRA Amendment.

  

	(f)	RRA Amendment. The RRA Amendment substantially in the form attached hereto as Exhibit A shall have been executed and delivered by the necessary parties thereto.

  

	(g)	HSR Act. All applicable waiting periods, if any, in respect of the transactions contemplated hereby and by the RRA Amendment under the HSR Act shall have expired or
terminated. 

  

	(h)	 Orders. No Governmental Entity of competent jurisdiction shall have enacted, issued, promulgated or entered any Law, judgment, decree, injunction or other
order (whether temporary, preliminary or permanent) that is in effect and restrains, enjoins or otherwise prohibits consummation of the transactions contemplated by the Purchase Documents or materially modifies any material term of the Purchase

  

 Page 17 

	 	 
Documents or the related transactions contemplated hereby and by the RRA Amendment (collectively, an Order), and no
Governmental Entity shall have instituted any proceeding seeking any such Order. 

  

	(i)	Other Authorizations, Consents etc. All other material authorizations, consents, orders or approvals of, or declarations or filings with, or expirations of waiting periods
imposed by, any Governmental Entity necessary for the consummation of the transactions contemplated hereby and by the RRA Amendment shall have been obtained or filed, or shall have occurred. 

  

	(j)	Certificate. Ipsen shall have delivered to Tercica a certificate executed by an officer of Ipsen, dated as of the Closing Date, as to the matters set forth in this Sections
6.1(a) and 6.1(b) above. 

 6.2 Ipsen’s obligation set forth in Section 2.2 of this Agreement shall be subject to the following
conditions, any one or more of which may be waived by Ipsen (to the extent legally permissible): 
  

	(a)	Representations and Warranties True. The representations and warranties of Tercica in Article 3 hereof shall be true and correct in all material respects (and any
representations and warranties qualified by materiality shall be true and correct in all respects) as of the date of this Agreement, except to the extent such representations and warranties expressly related to any earlier date, in which case such
representations and warranties shall be true and correct in all material respects on and as of such earlier date. 

  

	(b)	Compliance with Covenants. Tercica shall have performed and complied with in all material respects all covenants and agreements contained in this Agreement that are required
to be performed or complied with by it on or before the Closing. 

  

	(c)	Disclosure. As of the Closing Date, the Tercica SEC Reports (each as amended, supplemented or superseded as of the Closing Date) shall not contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. 

	(d)	Effective Date. The Effective Date shall have occurred. 

  

	(e)	First Genentech Closing. The First Genentech Closing shall have been consummated. 

  

	(f)	Litigation. No action, suit, or proceeding shall have been initiated or threatened with the probable or reasonably likely effect of enjoining or preventing the consummation
of the transactions contemplated hereby and by the RRA Amendment or seeking (with the probable or reasonably likely effect of receiving) material damages on account the consummation of the transactions contemplated hereby and by the RRA Amendment.

  

 Page 18 

	(g)	RRA Amendment. The RRA Amendment substantially in the form attached hereto as Exhibit A shall have been executed and delivered by the necessary parties thereto.

  

	(h)	HSR Act. All applicable waiting periods, if any, in respect of the transactions contemplated hereby and by the RRA Amendment under the HSR Act shall have expired or
terminated. 

  

	(i)	Orders. No Governmental Entity of competent jurisdiction shall have enacted, issued, promulgated or entered any Order, and no Governmental Entity shall have instituted any
proceeding seeking any such Order. 

  

	(j)	Other Authorizations, Consents etc. All other material authorizations, consents, orders or approvals of, or declarations or filings with, or expirations of waiting periods
imposed by, any Governmental Entity necessary for the consummation of the transactions contemplated hereby and by the RRA Amendment shall have been obtained or filed, or shall have occurred. 

  

	(k)	Certificate. Tercica shall have delivered to Ipsen a certificate executed by an officer of Tercica, dated the Closing Date, as to the matters set forth in Sections 6.2(a),
6.2(b), 6.2(c), 6.2(d) and 6.2(e) above. 

 ARTICLE 7 
 TERMINATION 
  

	7.1	Termination. 

  

	(a)	This Agreement shall terminate: 

  

	 	(i)	in its entirety upon the valid termination of the Combination Product Agreement in its entirety in accordance with its terms or by operation of Law; 

  

	 	(ii)	in its entirety upon the valid termination of the Genentech Purchase Agreement in its entirety in accordance with its terms or by operation of Law; and 

  

	 	(iii)	if the First Genentech Closing shall have not been consummated and the rights and obligations of Tercica and Genentech under Section 2.2(a) of the Genentech Purchase Agreement
shall have been terminated. 

  

 Page 19 

	(b)	This Agreement may be terminated at any time by mutual written consent of Ipsen and Tercica. 

 For the avoidance of doubt, in the event of a termination of this Agreement pursuant to this Section 7.1, nothing herein shall require Ipsen to purchase from Tercica or Tercica to sell to Ipsen any Shares
pursuant hereto after the date of such termination. 
 7.2 Effect of Termination. In the event that this Agreement is validly terminated as provided
herein, then each of the parties hereto shall be relieved of their duties and obligations arising under this Agreement after the date of such termination and such termination shall be without liability or obligation to Ipsen or Tercica;
provided, however, that such termination will not affect (a) any rights that have accrued to the benefit of any party hereto prior to the date of such termination, including damages arising from any breach of this Agreement and
(b) any party’s liability for any breach of this Agreement such party may have committed prior to the date of such termination. The provisions of this Section 7.2 and Article 8 (Miscellaneous) shall survive any termination hereof
pursuant to Section 7.1 hereof. 
 ARTICLE 8 
 MISCELLANEOUS 
  

	8.1	Acknowledgement; Waiver of Anti-Dilution Adjustments. 

  

	(a)	The parties hereto acknowledge and agree that (i) the Shares are being issued and sold hereunder in accordance with the terms of Section 5.1 of the Affiliation Agreement,
(ii) Ipsen is purchasing the Shares as Suraypharm’s designated Affiliate under Section 5.1 of the Affiliation Agreement, (iii) the transactions contemplated by this Agreement shall satisfy in full each of Tercica’s
obligations to Suraypharm under Section 5.1 of the Affiliation Agreement in connection with the issuance of shares of Common Stock to Genentech at the First Genentech Closing and (iv) from and after the Closing, the parties hereto shall
have no further rights or obligations under Section 5.1 of the Affiliation Agreement in connection with the issuance of shares of Common Stock to Genentech at the First Genentech Closing. 

  

	(b)	Ipsen hereby waives in its entirety the operation of Section 6(f) (Price-Based-Antidilution) of the Warrant and Section 3 (Price-Based Anti-Dilution Adjustment of
Conversion Price) of the Convertible Note with respect to the Shares issued and sold to Ipsen hereunder. 

 8.2 Assignment. No party may
assign this Agreement to a Third Party without the prior written consent of the other parties hereto, which consent shall not be unreasonably withheld or delayed. Notwithstanding the foregoing, (a) without the prior written consent of Tercica,
each of Ipsen and Suraypharm may assign this Agreement in its entirety to any 

  

 Page 20 

 
of its Affiliates, provided that any such assignment shall not relieve Ipsen of its responsibilities for performance of its obligations under this Agreement
and (b) without the prior written consent of any other party, any party hereto may assign this Agreement in its entirety in connection with a merger or similar reorganization or the sale of all or substantially all of its assets. Any attempted
assignment in violation of this Section 8.2 shall be void and of no effect. All valid assignments shall be binding upon and inure to the benefit of and be enforceable by and against the successors and permitted assigns of Ipsen, Suraypharm or
Tercica, as the case may be. If any party hereto assigns this Agreement under clause (b) above or seeks and obtains the any other party’s consent to assign this Agreement in its entirety to a Third Party, the assignee shall assume all
obligations of its assignor under this Agreement. 
 8.3 No Survival. The representations and warranties made herein shall terminate as of the
Closing. All statements as to factual matters contained in any certificate or other instrument delivered by or on behalf of any party pursuant hereto in connection with the transactions contemplated hereby shall be deemed to be representations and
warranties by such party hereunder solely as of the date of such certificate or instrument. 
 8.4 Waiver. Except as specifically provided for herein,
the waiver from time to time by any of the parties hereto of any of such party’s rights or such party’s failure to exercise any remedy shall not operate or be construed as a continuing waiver of same or of any other of such party’s
rights or remedies provided in this Agreement. 
 8.5 Expenses. Whether or not the transactions contemplated hereby are consummated, (a) the
legal, accounting, financing and due diligence expenses incurred by Ipsen in connection with such transactions will be borne by Ipsen and (b) the legal and other costs and expenses incurred by Tercica in connection with the transactions
contemplated hereby will be borne by Tercica. 
 8.6 Further Assurances. Each party shall duly execute and deliver, or cause to be duly executed and
delivered, such further instruments and do and cause to be done such further acts and things, including, without limitation, the filing of such assignments, agreements, documents and instruments, as may be necessary or as any other party may
reasonably request in connection with this Agreement or to carry out more effectively the provisions and purposes hereof, or to better assure and confirm unto such other party its rights and remedies under this Agreement. 
 8.7 Force Majeure. No failure or omission by the parties in the performance of any obligation of this Agreement shall be deemed a breach of this Agreement or
create any liability if the same shall arise from any cause or causes beyond the control of the parties (including, without limitation, the following: acts of God; acts or omissions of any government; any rules, regulations or orders issued by any
governmental authority or by any officer, department, agency or instrumentality thereof; fire; flood; storm; earthquake; accident; acts of war or terrorism; rebellion; insurrection; riot and invasion), provided that such failure or omission
resulting from one of the foregoing causes is cured as soon as practicable after its occurrence. 
  

 Page 21 

 8.8 Notices. Any notice required under this Agreement shall be in writing and shall specifically refer to this
Agreement. Notices shall be sent via one of the following means and will be effective (a) on the date of delivery, if delivered in person; (b) on the date of receipt, if sent by a facsimile (with delivery confirmed); or (c) on the
date of receipt, if sent by private express courier or by first class certified mail, return receipt requested. Any notice sent via facsimile shall be followed by a copy of such notice by private express courier or by first class mail. Notices shall
be sent to the other parties at the addresses set forth below. Any party hereto may change its addresses for purposes of this Section 8.8 by sending notice to the other parties. 
  
  

			
	If to Tercica, to:	  	
		
		  	Tercica, Inc.
		  	2000 Sierra Point Parkway, Suite 400
		  	Brisbane, CA 94005
		  	U.S.A.
		  	Attention: General Counsel
		  	Facsimile: +1 650 238 1520
		
		  	With a required copy (which shall not constitute notice) to:
		
		  	Cooley Godward Kronish LLP
		  	Five Palo Alto Square
		  	3000 El Camino Real
		  	Palo Alto, California 94306
		  	U.S.A.
		  	Attention: Suzanne Sawochka Hooper
		  	Facsimile: +1 650 849 7400
	
	If to Suraypharm or Ipsen, to:
		
		  	Ipsen, S.A.
		  	42, rue du Docteur Blanche
		  	75016 Paris
		  	France
		  	Attention: General Counsel
		  	Facsimile: + 331 44 96 11 88
		
		  	With a required copy (which shall not constitute notice) to:
		
		  	Freshfields Bruckhaus Deringer LLP
		  	520 Madison Avenue
		  	 34th Floor
 New York, NY 10022

		  	U.S.A.
		  	 Attention: Matthew Jacobson, Esq.
 Facsimile: +1 212 277
4001

  

 Page 22 

 8.9 Captions and Construction. Titles, headings and other captions are for convenience only and are not to be used
for interpreting this Agreement. Ambiguities, if any, in this Agreement shall not be construed against any party, irrespective of which party may be deemed to have drafted the Agreement or authorized the ambiguous provision. 
 8.10 Severability. If any provision hereof should be held invalid, illegal or unenforceable in any respect, then, to the fullest extent permitted by applicable
law, (a) all other provisions hereof shall remain in full force and effect and shall be liberally construed in order to carry out the intent of the parties as nearly as may be possible, and (b) the parties agree to negotiate provisions, in
replacement of the provision held invalid, illegal or unenforceable, that is consistent with applicable law and accomplishes, as nearly as possible, the original intention of the parties with respect thereto. To the fullest extent permitted by
applicable law, each party hereby waives any provision of law that would render any provision hereof prohibited or unenforceable in any respect. 
 8.11
Governing Law. This Agreement shall be governed and interpreted in accordance with the substantive laws of the State of New York notwithstanding the provisions governing conflicts of laws under such law of the State of New York to the
contrary. 
 8.12 Counterparts; Facsimiles. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument. For purposes hereof, a facsimile copy of this Agreement, including the signature pages hereto, will be deemed to be an original. Notwithstanding the foregoing, the parties shall
deliver original execution copies of this Agreement to one another as soon as practicable following execution thereof. 
 8.13 Entire Agreement. This
Agreement, the other Purchase Documents, the Disclosure Schedule and the other agreements, documents and instruments contemplated hereby and referenced herein sets forth all the covenants, promises, agreements, warranties, representations,
conditions and understandings among the parties hereto and supersedes and terminates all warranties, representations, conditions or understandings, either oral or written, among the parties with respect to the subject matter hereof. No subsequent
alteration, amendment, change or addition to this Agreement shall be binding upon the parties hereto unless reduced to writing and signed by the respective authorized representatives of the parties. 
 8.14 No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is
not for the benefit of, nor may any provision hereof be enforced by, any other person. 
 [SIGNATURES APPEAR ON FOLLOWING PAGE] 

  

 Page 23 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their duly authorized
representatives as of the day and year first above written. 
  

			
	TERCICA, INC.
		
	By:	 	 /s/ Stephen N. Rosenfield

	Name:	 	Stephen N. Rosenfield
	Title:	 	Executive Vice President of Legal Affairs, General Counsel and Secretary
	
	SURAYPHARM
		
	By:	 	 /s/ Jean Luc Bélingard

	Name:	 	Jean Luc Bélingard
	Title:	 	President
	
	IPSEN, S.A.
		
	By:	 	 /s/ Jean Luc Bélingard

	Name:	 	Jean Luc Bélingard
	Title:	 	President

 [Signature Page for Common Stock Purchase Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00127-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00127-of-00352.parquet"}]]