Document:

Exhibit 10.7

 

Cannabis Global, Inc.

10% CONVERTIBLE PROMISSORY NOTE

 

	Effective Date: January 12, 2021	Principal Amount: US $115,500.00	Maturity Date: January 12, 2022

 

 

THIS NOTE AND THE COMMON STOCK ISSUABLE UPON CONVERSION OF THIS
NOTE HAVE NOT BEEN AND WILL NOT BE REGISTERED WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION
OF ANY STATE PURSUANT TO AN EXEMPTION FROM REGISTRATION PROVIDED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND THE RULES AND
REGULATIONS PROMULGATED THEREUNDER (THE "1933 ACT")

 

FOR VALUE RECEIVED Cannabis Global, Inc. (the "Company'') promises
to pay to the order of GW Holdings Group, LLC, and its authorized successors and permitted assigns ("Holder"), the aggregate
principal face amount of Ninety-Eight Thousand One Hundred Seventy-Five Dollars exactly (U.S. $115,500.00) on January 12, 2022
("Maturity Date"). The Company will pay interest on the principal amount outstanding at the rate of 10% per annum, which
will commence on January 12, 2021. The Company acknowledges that this Note was issued with a $10,500.00 original issue discount
("OID") such that the purchase price is $105,000.00 minus legal fees as contained in the disbursement memo. The interest
will be paid to the Holder in whose name this Note is registered on the records of the Company regarding registration and transfers
of this Note. The principal of, and interest on, this Note are payable at 137 Montague Street, Suite 291, Brooklyn, NY 11201, initially,
and if changed, last appearing on the records of the Company as designated in writing by the Holder hereof from time to time. The
Company will pay each interest payment and the outstanding principal due upon this Note before or on the Maturity Date, less any
amounts required by law to be deducted or withheld, to the Holder of this Note by check or wire transfer addressed to such Holder
at the last address appearing on the records of the Company. The forwarding of such check or wire transfer shall constitute a payment
of outstanding principal hereunder and shall satisfy and discharge the liability for principal on this Note to the extent of the
sum represented by such check or wire transfer. Interest shall be payable in Common Stock (as defined below) pursuant to paragraph
4(b) herein.

 

This Note is subject to the following additional provisions:

 

1, This Note is exchangeable for an equal aggregate principal amount
of Notes of different authorized denominations, as requested by the Holder surrendering the same. No service charge will be made
for such registration or transfer or exchange, except that Holder shall pay any tax or other governmental charges payable in connection
therewith.

 

2. Under all applicable laws, the Company shall be entitled to withhold
any amounts from all payments it is entitled to.

 

3. This Note may only be transferred or exchanged in compliance
with the Securities Act of 1933, as amended ("Act") and any applicable state securities laws. All attempts transfer to
a non-qualifying party shall be treated by the Company as void. Prior to due presentment for transfer of this Note, the Company
and any agent of the Company may treat the person in whose name this Note is duly registered on the Company's records as the owner
hereof for all other purposes, whether or not this Note be overdue, and neither the Company nor any such agent shall be affected
or bound by notice to the contrary. Any Holder of this Note electing to exercise the right of conversion set forth in Section 4(a)
hereof, in addition to the requirements set forth in Section 4(a), and any prospective transferee of this Note, also is required
to give the Company written confirmation that this Note is being converted ("Notice of Conversion") in the form annexed
hereto as Exhibit A. The date of receipt (including receipt by telecopy) of such Notice of Conversion shall be the Conversion Date.

 

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4. (a) The Holder of this Note has the option, beginning on the
sixty-first (61st) day of the Issuance Date hereof, to convert all or any amount of the principal face amount of this Note then
outstanding into shares of the Company's common stock (the "Common Stock") at a $0.10 per share (the "Fixed Conversion
Price"); provided however, that if any time after the Issuance Date hereof, the price of the Company's Common Stock is less
than $0.10 per share, the conversion price (the "Adjusted Conversion Price", along with the Fixed Conversion Price, each
a "Conversion Price") for each share of Common Stock shall be equal to a forty percent (40%) discount of the lowest trading
price of the Common Stock as reported on the National Quotations Bureau OTC Markets exchange which the Company's shares are traded
or any exchange upon which the Common Stock may be traded in the future ("Exchange"), for the ten (10) prior Trading
Days including the day upon which a Notice of Conversion is received by the Company or its transfer agent (provided such Notice
of Conversion is delivered by fax or other electronic method of communication to the Company after 4 P.M. Eastern Standard or Daylight
Savings Time if the Holder wishes to include the same day closing price). As used herein, "Trading Day" means any day
that shares of Common Stock of the Company are listed for trading or quotation on the Company's principal trading market, any tier
of the NASDAQ Stock Market, the New York Stock Exchange, or the NYSE American.

 

The Notice of Conversion may be rescinded if the shares have not
been delivered within three (3) business days. The Company shall deliver the shares of Common Stock to the Holder within three
(3) business days of receipt by the Company of the Notice of Conversion. Accrued but unpaid interest shall be subject to conversion.
The number of issuable shares will be rounded to the nearest whole share, and no fractional shares or scrip representing fractions
of shares will be issued on conversion. To the extent the Conversion Price of the Company's Common Stock closes below the par value
per share, the Company will take all steps necessary to solicit the consent of the stockholders to reduce the par value to the
lowest value possible under law. The Company agrees to honor all conversions submitted until the par is decreased. In the event
the Company experiences a DTC "Chill" on its shares, the conversion price discount shall be increased to sixty percent
(60%) while that "Chill" is in effect. Notwithstanding anything to the contrary contained in the Note (except as set
forth below in this Section), the Note shall not be convertible by Investor, and Company shall not effect any conversion of the
Note or otherwise issue any shares of Common Stock to the extent (but only to the extent) that Investor together with any of its
affiliates would beneficially own in excess own in excess of 4.99%, which may be increased up to 9.99% upon sixty (60) days prior
written notice by the Holder to the Company (the "Maximum Percentage") of the Common Stock outstanding. The Maximum Percentage
shall automatically become 9.99% in the event the Company is not, or is and then ceases to be a reporting company under the Securities
and Exchange Act of 1934. To the extent the foregoing limitation applies, the determination of whether a Note shall be convertible
(vis-a-vis other convertible, exercisable or exchangeable securities owned by Investor or any of its affiliates) and of which such
securities shall be convertible, exercisable or exchangeable (as among all such securities owned by Investor and its affiliates)
shall, subject to such Maximum Percentage limitation, be determined on the basis of the first submission to Company for conversion,
exercise or exchange (as the case may be). No prior inability to convert a Note, or to issue shares of Common Stock, pursuant to
this Section shall have any effect on the applicability of the provisions of this Section with respect to any subsequent determination
of convertibility. For purposes of this Section, beneficial ownership and all determinations and calculations (including, without
limitation, with respect to calculations of percentage ownership) shall be determined in accordance with Section 13(e) of the 1934
Act (as defined below) and the rules and regulations promulgated thereunder. The provisions of this Section shall be implemented
in a manner otherwise than in strict conformity with the terms of this Section to correct this Section (or any portion hereof)
which may be defective or inconsistent with the intended Maximum Percentage beneficial ownership limitation herein contained or
to make changes or supplements necessary or desirable to properly give effect to such Maximum Percentage limitation. The limitations
contained in this Section shall apply to a successor holder of this Note and shall be unconditional, irrevocable and non-waivable.
For any reason at any time, upon the written or oral request of Investor, Company shall within one (1) business day confirm orally
and in writing to Investor the number of shares of Common Stock then outstanding, including by virtue of any prior conversion or
exercise of convertible or exercisable securities into Common Stock, including, without limitation, pursuant to this Note.

 

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(b) Interest on any unpaid principal balance of this Note shall
be paid at the rate of ten percent (10%) per annum. Interest shall be paid, by the Company, in Common Stock ("Interest Shares").
Holder may send in a Notice of Conversion to the Company for Interest Shares based on the formula provided in Section 4(a) above.
The dollar amount converted into Interest Shares shall be all or a portion of the accrued interest calculated on the unpaid principal
balance of this Note to the date of such notice.

 

(c) During the first six (6) months this Note is in effect, the
Company may redeem this Note by paying to the Holder an amount as follows: (i) if the redemption occurs within the first sixty
(60) days then an amount equal to one hundred twenty percent (120%) of the face amount plus any accrued interest; (ii) if the redemption
occurs after day sixty-one (61), but on or before day one hundred twenty following the issuance of this Note, then an amount equal
to one hundred thirty percent (130%) of the face amount along with any accrued interest; (iii) if the redemption occurs after day
one hundred twenty-one (121) but on or before day one hundred eighty (180) following the issuance of this Note, then an amount
equal to one hundred thirty-five (135%) of the face amount along with any accrued interest This Note may not be redeemed after
one hundred eighty (180) days following the Issue Date hereof. The redemption must be closed and paid for within three (3) business
days of the Company sending the redemption demand or the redemption will be invalid and the Company forever forfeit its right to
redeem the Note under this Section 4(c).

 

(d) Upon (i) a transfer of all or substantially all of the assets
of the Company to any person in a single transaction or series of related transactions; (ii) a reclassification, capital reorganization
or other change or exchange of outstanding shares of the Common Stock, other than a forward or reverse stock split or stock dividend;
or (iii) any consolidation or merger of the Company with or into another person or entity in which the Company is not the surviving
entity (other than a merger which is effected solely to change the jurisdiction of incorporation of the Company and results in
a reclassification, conversion or exchange of outstanding shares of Common Stock solely into shares of Common Stock) (each of items
(1), (11), and (111) being referred to as a "Sale Event"), then, in each case, the Company shall, upon request of the
Holder, redeem this Note in cash for one hundred fifty percent (150%) of the principal amount, plus accrued but unpaid interest
through the date of redemption, or at the election of the Holder, such Holder may convert the unpaid principal amount of this Note
(together with the amount of accrued but unpaid interest) into shares of Common Stock immediately prior to such Sale Event at the
Conversion Price.

 

(e) In case of any Sale Event (not to include a sale of all or substantially
all of the Company's assets) in connection with which this Note is not redeemed or converted, the Company shall cause effective
provision to be made so that the Holder of this Note shall have the right thereafter, by converting this Note, to purchase or convert
this Note into the kind and number of shares of stock or other securities or property (including cash) receivable upon such reclassification,
capital reorganization or other change, consolidation or merger by a holder of the number of shares of Common Stock that could
have been purchased upon exercise of the Note and at the same Conversion Price, as defined in this Note, immediately prior to such
Sale Event. The foregoing provisions shall similarly apply to successive Sale Events. If the consideration received by the holders
of Common Stock is other than cash, the value shall be as determined by the Board of Directors of the Company or successor person
or entity acting in good faith.

 

5. No provision of this Note shall alter or impair the obligation
of the Company, which is absolute and unconditional, to pay the principal of, and interest on, this Note at the time, place, and
rate, and in the form, herein prescribed.

 

6. The Company hereby expressly waives demand and presentment for
payment, notice of non-payment, protest, notice of protest, notice of dishonor, notice of acceleration or intent to accelerate,
and diligence in taking any action to collect amounts called for hereunder and shall be directly and primarily liable for the payment
of all sums owing and to be owing hereto.

 

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7. The Company agrees to pay all costs and expenses, including reasonable
attorneys' fees and expenses, which may be incurred by the Holder in collecting any amount due under this Note, including, but
not limited to any reasonable conversion fees incurred by the Holder.

8. While this Note is outstanding and to the extent the Company
grants any other party more favorable investment terms (whether via interest rate, original issue discount, conversion discount,
look-back period or any other term), the terms of the Note shall automatically adjust to match those more favorable terms.

 

9. If one or more of the following described "Events of Default"
shall occur:

 

(a) The Company shall default in the payment of principal or interest
on this Note or any other note issued to the Holder by the Company;

 

(b) The Company does not notify the Holder within three (3) business
days of granting another party more favorable investment terms;

 

(c) Any of the representations or warranties made by the Company
herein or in any certificate or financial or other written statements heretofore or hereafter furnished by or on behalf of the
Company in connection with the execution and delivery of this Note, or the Securities Purchase Agreement under which this note
was issued shall be false or misleading in any respect;

 

(d) The Company shall fail to perform or observe, in any respect,
any covenant, term, provision, condition, agreement or obligation of the Company under this Note or any other note issued to the
Holder;

 

(e) The Company shall (1) become insolvent; (2) admit in writing
its inability to pay its debts generally as they mature; (3) make an assignment for the benefit of creditors or commence proceedings
for its dissolution; (4) apply for or consent to the appointment of a trustee, liquidator or receiver for its or for a substantial
part of its property or business; or (5) file a petition for relief, consent to the filing of such petition or have filed against
it an involuntary petition for bankruptcy relief, all under federal or state laws as applicable;

 

(f) A trustee, liquidator or receiver shall be appointed for the
Company or for a substantial part of its property or business without its consent and shall not be discharged within sixty (60)
days after such appointment;

 

(g) Any governmental agency or any court of competent jurisdiction
at the instance of any governmental agency shall assume custody or control of the whole or any substantial portion of the properties
or assets of the Company;

 

(h) One or more money judgments, writs or warrants of attachment,
or similar process, in excess of one hundred thousand dollars ($100,000.00) in the aggregate, shall be entered or filed against
the Company or any of its properties or other assets and shall remain unpaid, unvacated, unbonded or unstayed for a period of fifteen
(15) days or in any event later than five (5) days prior to the date of any proposed sale thereunder; (i) The Company shall have
its Common Stock delisted from an exchange (including the OTCBB exchange) or, if the Common Stock trades on an exchange, then trading
in the Common Stock shall be suspended for more than ten (10) consecutive days;

 

(j) The Company shall not deliver to the Holder the Common Stock
pursuant to paragraph 4 herein without restrictive legend within three (3) business days of its receipt of a Notice of Conversion;

 

(k) The Company shall not be "current" with any of its
required filings with the Securities and Exchange Commission; or

 

(1) The Company shall lose the "bid" price for its stock
in a market (including the OTCQB marketplace or other exchange);

 

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(m) The Company is in arrears for more than thirty (30) days with
its Transfer Agent, the conversion discount shall be increased from fifty percent (50%) to sixty percent (60%);

 

(n) The Company shall (1) not replenish the reserve set forth in
Section 13, within 3 business days of the request of the Holder; or (2) change Transfer Agents without providing notice and an
updated and signed Transfer Agent Letter within five (5) business days of the change;

 

(0) Following any Event of Default, the Conversion Price discount
shall be permanently increased an additional five percent (5%); or

 

Then, at any time thereafter, unless cured within five (5) days,
and in each and every such case, unless such Event of Default shall have been waived in writing by the Holder (which waiver shall
not be deemed to be a waiver of any subsequent default) at the option of the Holder and in the Holder's sole discretion, the Holder
may consider this Note immediately due and payable, without presentment, demand, protest or (further) notice of any kind (other
than notice of acceleration), all of which are hereby expressly waived, anything herein or in any note or other instruments contained
to the contrary notwithstanding, and the Holder may immediately, and without expiration of any period of grace, enforce any and
all of the Holder's rights and remedies provided herein or any other rights or remedies afforded by law. Upon an Event of Default,
interest shall accrue at a default interest rate of twenty-four percent (24%) per annum or, if such rate is usurious or not permitted
by current law, then at the highest rate of interest permitted by law. In the event of a breach of Section 9(j) the penalty shall
be $250.00 per day the shares are not issued beginning on the 4" day after the conversion notice was delivered to the Company.
This penalty shall increase to $500.00 per day beginning on the 10 day. The penalty for a breach of Section 9(1) shall be an increase
of the outstanding principal amounts by twenty percent (20%). In case of a breach of Section 9(h), (i), (j), (k), or (n) the outstanding
principal due under this Note shall increase by fifty percent (50%). If this Note is not paid at maturity, the outstanding principal
due under this Note shall increase by ten percent (10%).

 

If the Holder shall commence an action or proceeding to enforce
any provisions of this Note, including, without limitation, engaging an attorney, then if the Holder prevails in such action, the
Holder shall be reimbursed by the Company for its attorneys' fees and other costs and expenses incurred in the investigation, preparation
and prosecution of such action or proceeding.

 

At the Holder's election, if the Company fails for any reason to
deliver to the Holder the conversion shares by the by the 3rd business day following the delivery of a Notice of Conversion to
the Company and if the Holder incurs a Failure to Deliver Loss, then at any time the Holder may provide the Company written notice
indicating the amounts payable to the Holder in respect of the Failure to Deliver Loss and the Company must make the Holder whole
as follows:

 

Failure to Deliver Loss = [(High trade price at any time on or after
the day of exercise) x (Number of conversion shares)]

 

The Company must pay the Failure to Deliver Loss by cash payment,
and any such cash payment must be made by the third business day from the time of the Holder's written notice to the Company.

 

10. 'In case any provision of this Note is held by a court of competent
jurisdiction to be excessive in scope or otherwise invalid or unenforceable, such provision shall be adjusted rather than voided,
if possible, so that it is enforceable to the maximum extent possible, and the validity and enforceability of the remaining provisions
of this Note will not in any way be affected or impaired thereby.

 

11. Neither this Note nor any term hereof may be amended, waived,
discharged or terminated other than by a written instrument signed by the Company and the Holder.

 

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12. The Company represents that it is not a "shell" issuer
and has never been a "shell" issuer or that if it previously has been a "'shell"' issuer that at least twelve
(12) months have passed since the Company has reported form 10 type information indicating it is no longer a "shell issuer.
Further. The Company will instruct its counsel to either (i) write a 144- 3(a)(9) opinion to allow for salability of the conversion
shares or (11) accept such opinion from Holder's counsel.

 

13. The Company shall reserve 5,000,000 shares of Common Stock for
conversions under this Note (the "Share Reserve"). The investor shall have the right to periodically request that the
number of Reserved Shares be increased so that the number of Reserved Shares at least equals four hundred percent (400%) of the
number of shares of Company common stock issuable upon conversion of the Note. As part of the Share Reserve, 200% shall be registered
shares under an effective registration statement of the Company. The Company shall pay all costs associated with issuing and delivering
the shares. If such amounts are to be paid by the Holder, it may deduct such amounts from the Conversion Price. The Company will
instruct its transfer agent to provide the outstanding share information to the Holder in connection with its conversions. At all
times, the reserve shall be maintained with the Transfer Agent at four times the number of shares required if the Note would be
fully converted. If the Company defaults on these terms, the conversion discount will increase to fifty percent (50%).

 

14. The Company will give the Holder direct notice of any corporate
actions, including but not limited to name changes, stock splits, recapitalizations etc. This notice shall be given to the Holder
as soon as possible under law.

 

15. This Note shall be governed by and construed in accordance with
the laws of New York applicable to contracts made and wholly to be performed within the State of New York and shall be binding
upon the successors and assigns of each party hereto. The Holder and the Company hereby mutually waive trial by jury and consent
to exclusive jurisdiction and venue in the courts of the State of New York. This Agreement may be executed in counterparts, and
the facsimile transmission of an executed counterpart to this Agreement shall be effective as an original.

 

IN WITNESS WHEREOF, the Company has caused this Note to be duly
executed by an officer thereunto duly authorized.

 

Dated: 1-12-2021

 

/s/ Arman Tabatabaei

Arman Tabatabaei

Title: CEO

 

 

 

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EXHIBIT A

 

NOTICE OF CONVERSION (To be Executed by the Registered Holder in
order to Convert the Note)

 

The undersigned hereby irrevocably elects to convert $ of the above
Note into Shares of Common Stock of Cannabis Global, Inc.(""Shares") according to the conditions set forth in such
Note, as of the date written below.

 

If Shares are to be issued in the name of a person other than the
undersigned, the undersigned will pay all transfer and other taxes and charges payable with respect thereto.

 

Date of Conversion:

Applicable Conversion Price:

Signature:

[Print Name of Holder and Title of Signer]

Address:

SSN or EIN: Shares are to be registered in the following name:

Name:

Address:

Tel:

Fax:

SSN or EIN:

Shares are to be sent or delivered to the following account:

 

Account Name: Address:EX-10.1

 Exhibit 10.1 

Execution Version 

AMENDED AND RESTATED 

INVESTOR’S RIGHTS AGREEMENT 

THIS AMENDED AND RESTATED INVESTOR’S RIGHTS AGREEMENT (this “Agreement”), is made as of the 9th day of August, 2019, by and among Landos Biopharma, Inc., a Delaware corporation (the “Company”), and each of the investors listed on Schedule A hereto, each of which is
referred to in this Agreement as an “Investor”. 
 RECITALS 

WHEREAS, certain of the Investors (the “Existing Investors”) hold shares of the Company’s Series A Preferred
Stock and/or shares of the Common Stock issued upon conversion thereof and possess registration rights, information rights, rights of first offer, and other rights pursuant to that certain Investors’ Rights Agreement dated as of
September 19, 2017, by and among the Company and such Existing Investors (the “Prior Agreement”); and 
 WHEREAS,
the Existing Investors are holders of at least a majority of the Registrable Securities of the Company (as defined in the Prior Agreement), and desire to amend and restate the Prior Agreement in its entirety and to accept the rights created
pursuant to this Agreement in lieu of the rights granted to them under the Prior Agreement; and 
 WHEREAS, certain of the Investors
are parties to that certain Series B Preferred Stock Purchase Agreement of even date herewith by and among the Company and such Investors (the “Purchase Agreement”), under which certain of the Company’s and such Investors’
obligations are conditioned upon the execution and delivery of this Agreement by such Investors, the Existing Investors holding at least a majority of the Registrable Securities, and the Company; 

NOW, THEREFORE, the Existing Investors hereby agree that the Prior Agreement shall be amended and restated, and the parties to this
Agreement further agree as follows: 
 1. Definitions. For purposes of this Agreement: 

1.1 “Affiliate” means, with respect to any specified Person, any other Person who, directly or indirectly,
controls, is controlled by, or is under common control with such Person, including without limitation any general partner, managing member, officer or director of such Person or any investment fund now or hereafter existing that is controlled by one
or more general partners, managing members or investment adviser of, or shares the same management company or investment adviser with, such Person. 

1.2 “Board of Directors” means the board of directors of the Company. 

1.3 “Certificate of Incorporation” means the Company’s Amended and Restated Certificate of Incorporation,
filed with the Secretary of State of the State of Delaware on the date hereof (as amended and/or restated, from time to time). 

 1.4 “Common Stock” means shares of the Company’s
common stock, par value $0.01 per share. 
 1.5 “Common Stock Director” means any director of
the Company that the holders of record of the Common Stock are entitled to elect pursuant to the Certificate of Incorporation. 

1.6 “Damages” means any loss, damage, claim or liability (joint or several) to which a party hereto may become
subject under the Securities Act, the Exchange Act, or other federal or state law, insofar as such loss, damage, claim or liability (or any action in respect thereof) arises out of or is based upon: (i) any untrue statement or alleged untrue
statement of a material fact contained in any registration statement of the Company, including any preliminary prospectus or final prospectus contained therein or any amendments or supplements thereto; (ii) an omission or alleged omission to
state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading; or (iii) any violation or alleged violation by the indemnifying party (or any of its agents or Affiliates) of
the Securities Act, the Exchange Act, any state securities law, or any rule or regulation promulgated under the Securities Act, the Exchange Act, or any state securities law. 

1.7 “Derivative Securities” means any securities or rights convertible into, or exercisable or exchangeable
for (in each case, directly or indirectly), Common Stock, including options and warrants. 
 1.8 “Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 

1.9 “Excluded Registration” means (i) a registration relating to the sale of securities to employees of
the Company or a subsidiary pursuant to a stock option, stock purchase, or similar plan; (ii) a registration relating to an SEC Rule 145 transaction; (iii) 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 (iv) a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities
that are also being registered. 
 1.10 “FOIA Party” means a Person that, in the reasonable determination of
the Board of Directors, may be subject to, and thereby required to disclose non-public information furnished by or relating to the Company under, the Freedom of Information Act, 5 U.S.C. 552
(“FOIA”), any state public records access law, any state or other jurisdiction’s laws similar in intent or effect to FOIA, or any other similar statutory or regulatory requirement. 

1.11 “Form S-1” means such form under the Securities Act as in
effect on the date hereof or any successor registration form under the Securities Act subsequently adopted by the SEC. 

  
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 1.12 “Form
S-3” means such form under the Securities Act as in effect on the date hereof or any registration form under the Securities Act subsequently adopted by the SEC that permits incorporation of
substantial information by reference to other documents filed by the Company with the SEC. 
 1.13 “GAAP”
means generally accepted accounting principles in the United States as in effect from time to time. 
 1.14
“Holder” means any holder of Registrable Securities who is a party to this Agreement. 
 1.15
“Immediate Family Member” means a child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law,
daughter-in-law, brother-in-law, or sister-in-law, including, adoptive relationships, of a natural person referred to herein. 

1.16 “Initiating Holders” means, collectively, Holders who properly initiate a registration request under this
Agreement. 
 1.17 “IPO” means the Company’s first underwritten public offering of its Common Stock
under the Securities Act. 
 1.18 “Major Investor” means any Investor that, individually or together with
such Investor’s Affiliates, holds at least 666,000 shares of (i) Series A Preferred Stock or (ii) Series B Preferred Stock (in each case as adjusted for any stock split, stock dividend, combination, or other recapitalization or
reclassification effected after the date hereof). 
 1.19 “New Securities” means, collectively, equity
securities of the Company (other than Exempted Securities (as defined in the Company’s Certificate of Incorporation)), whether or not currently authorized, as well as rights, options, or warrants to purchase such equity securities, or
securities of any type whatsoever that are, or may become, convertible or exchangeable into or exercisable for such equity securities. 

1.20 “Osage” means Osage University Partners III, LP 

1.21 “Perceptive” means Perceptive Life Sciences Master Fund, L.P. and Perceptive Xontogeny Venture Fund, L.P.

 1.22 “Person” means any individual, corporation, partnership, trust, limited liability company,
association or other entity. 
 1.23 “Preferred Stock” means, collectively, shares of the
Company Series A Preferred Stock and Series B Preferred Stock. 

  
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 1.24 “Registrable Securities” means (i) the Common
Stock issuable or issued upon conversion of the Series A Preferred Stock; (ii) the Common Stock issuable or issued upon conversion of the Series B Preferred Stock; (iii) any Common Stock, or any Common Stock issued or
issuable (directly or indirectly) upon conversion and/or exercise of any other securities of the Company, acquired by the Investors after the date hereof; and (iv) any Common Stock issued as (or
issuable upon the conversion or exercise of any warrant, right, or other security that is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, the shares referenced in clauses (i), (ii),
and (iii) above; and (v) any Common Stock acquired by an Investor pursuant to the Amended and Restated Right of First Refusal and Co-Sale Agreement dated as of the date hereof; excluding in
all cases, however, any Registrable Securities sold by a Person in a transaction in which the applicable rights under this Agreement are not assigned pursuant to Subsection 6.1, and excluding for purposes of Section 2
any shares for which registration rights have terminated pursuant to Subsection 2.13 of this Agreement. 

1.25 “Registrable Securities then outstanding” means the number of shares determined by adding the number of
shares of outstanding Common Stock that are Registrable Securities and the number of shares of Common Stock issuable (directly or indirectly) pursuant to then exercisable and/or convertible securities that are Registrable Securities. 

1.26 “Restricted Securities” means the securities of the Company required to be notated with the legend set
forth in Subsection 2.12(b) hereof. 
 1.27 “RTW” means RTW Investments, LP and its Affiliated
funds, including RTW Master Fund, Ltd., RTW Innovation Master Fund, Ltd. and RTW Special Purpose Fund I, LLC. 
 1.28
“SEC” means the Securities and Exchange Commission. 
 1.29 “SEC Rule 144” means Rule 144
promulgated by the SEC under the Securities Act. 
 1.30 “SEC Rule 145” means Rule 145 promulgated by the
SEC under the Securities Act. 
 1.31 “Securities Act” means the Securities Act of 1933, as amended, and the
rules and regulations promulgated thereunder. 
 1.32 “Selling Expenses” means all underwriting discounts,
selling commissions, and stock transfer taxes applicable to the sale of Registrable Securities, and fees and disbursements of counsel for any Holder, except for the fees and disbursements of the Selling Holder Counsel borne and paid by the Company
as provided in Subsection 2.6. 
 1.33 “Series A Director” means any director of the
Company that the holders of record of the Series A Preferred Stock are entitled to elect pursuant to the Certificate of Incorporation. 

  
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 1.34 “Series A Preferred Stock” means shares of the
Company’s Series A Preferred Stock, par value $0.01 per share. 
 1.35 “Series B Director” means any
director of the Company that the holders of record of the Series B Preferred Stock are entitled to elect pursuant to the Certificate of Incorporation. 

1.36 “Series B Preferred Stock” means shares of the Company’s Series B Preferred Stock, par value $0.01
per share. 
 2. Registration Rights. The Company covenants and agrees as follows: 

2.1 Demand Registration. 

(a) Form S-1 Demand. If at any time after the earlier of (i) five (5) years after the date
of this Agreement or (ii) one hundred eighty (180) days after the effective date of the registration statement for the IPO, the Company receives a request from Holders of at least twenty percent (20%) of the Registrable Securities then
outstanding that the Company file a Form S-1 registration statement with respect to such percent of the Registrable Securities then outstanding for which the anticipated aggregate offering price, net of
Selling Expenses, would exceed $10 million, then the Company shall (x) within ten (10) days after the date such request is given, give notice thereof (the “Demand Notice”) to all Holders other than the Initiating
Holders; and (y) as soon as practicable, and in any event within sixty (60) days after the date such request is given by the Initiating Holders, file a Form S-1 registration statement under the
Securities Act covering all Registrable Securities that the Initiating Holders requested to be registered and any additional Registrable Securities requested to be included in such registration by any other Holders, as specified by notice
given by each such Holder to the Company within twenty (20) days of the date the Demand Notice is given, and in each case, subject to the limitations of Subsections 2.1(c) and 2.3. 

(b) Form S-3 Demand. If at any time when it is eligible to use a Form S-3 registration statement (or any equivalent or successor form), the Company receives a request from Holders of at least ten percent (10%) of the Registrable Securities then outstanding that the Company file a Form
S-3 registration statement with respect to outstanding Registrable Securities of such Holders having an anticipated aggregate offering price, net of Selling Expenses, of at least $1 million, then the
Company shall (i) within ten (10) days after the date such request is given, give a Demand Notice to all Holders other than the Initiating Holders; and (ii) as soon as practicable, and in any event within forty-five (45) days
after the date such request is given by the Initiating Holders, file a Form S-3 registration statement under the Securities Act covering all Registrable Securities requested to be included in such registration
by any other Holders, as specified by notice given by each such Holder to the Company within twenty (20) days of the date the Demand Notice is given, and in each case, subject to the limitations of Subsections 2.1(c) and 2.3. 

  
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 (c) Notwithstanding the foregoing obligations, if the Company furnishes to Holders
requesting a registration pursuant to this Subsection 2.1 a certificate signed by the Company’s chief executive officer stating that in the good faith judgment of the Board of Directors it would be materially detrimental to the Company
and its stockholders for such registration statement to either become effective or remain effective for as long as such registration statement otherwise would be required to remain effective, because such action would (i) materially interfere
with a significant acquisition, corporate reorganization, or other similar transaction involving the Company; (ii) require premature disclosure of material information that the Company has a bona fide business purpose for preserving as
confidential; or (iii) render the Company unable to comply with requirements under the Securities Act or Exchange Act, then the Company shall have the right to defer taking action with respect to such filing and any time periods with respect to
filing or effectiveness thereof shall be tolled correspondingly, for a period of not more than one hundred twenty (120) days after the request of the Initiating Holders is given; provided, however, that the Company may not invoke
this right more than once in any twelve (12) month period; and provided further that the Company shall not register any securities for its own account or that of any other stockholder during such one hundred twenty (120) day
period other than an Excluded Registration. 
 (d) The Company shall not be obligated to effect, or to take any action to effect, any
registration pursuant to Subsection 2.1(a)(i) during the period that is sixty (60) days before the Company’s good faith estimate of the date of filing of, and ending on a date that is one hundred eighty (180) days after
the effective date of, a Company-initiated registration, provided that the Company is actively employing in good faith commercially reasonable efforts to cause such registration statement to become effective; (ii) after the Company has
effected two registration pursuant to Subsection 2.1(a); or (iii) if the Initiating Holders propose to dispose of shares of Registrable Securities that may be immediately registered on Form S-3
pursuant to a request made pursuant to Subsection 2.1(b). The Company shall not be obligated to effect, or to take any action to effect, any registration pursuant to Subsection 2.1(b) (i) during the period that is thirty
(30) days before the Company’s good faith estimate of the date of filing of, and ending on a date that is ninety (90) days after the effective date of, a Company-initiated registration, provided that the Company is actively
employing in good faith commercially reasonable efforts to cause such registration statement to become effective; or (ii) if the Company has effected two registrations pursuant to Subsection 2.1(b) within the twelve (12) month
period immediately preceding the date of such request. A registration shall not be counted as “effected” for purposes of this Subsection 2.1(d) until such time as the applicable registration statement has been declared
effective by the SEC, unless the Initiating Holders withdraw their request for such registration, elect not to pay the registration expenses therefor, and forfeit their right to one demand registration statement pursuant to Subsection 2.6, in
which case such withdrawn registration statement shall be counted as “effected” for purposes of this Subsection 2.1(d). 

2.2 Company Registration. If the Company proposes to register (including, for this purpose, a registration effected by the Company for
stockholders other than the Holders) any of its Common Stock under the Securities Act in connection with the public offering of such securities solely for cash (other than in an Excluded Registration), the Company shall, at such time, promptly give
each Holder notice of such registration. Upon the request of each Holder given within twenty (20) days after such notice is given by the Company, the Company shall, subject to the provisions of Subsection 2.3, cause to be registered all
of the 

  
 6 

 
Registrable Securities that each such Holder has requested to be included in such registration. The Company shall have the right to terminate or withdraw any registration initiated by it under
this Subsection 2.2 before the effective date of such registration, whether or not any Holder has elected to include Registrable Securities in such registration. The expenses (other than Selling Expenses) of such withdrawn registration shall
be borne by the Company in accordance with Subsection 2.6. 
 2.3 Underwriting Requirements. 

(a) If, pursuant to Subsection 2.1, 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 Subsection 2.1, and the Company shall include such information in the Demand Notice. The underwriter(s) will be selected by the
Company and shall be reasonably acceptable to a majority in interest of the Initiating Holders. In such event, the right of any Holder to include such Holder’s Registrable Securities in such registration shall be conditioned upon such
Holder’s participation in such underwriting and the inclusion of such Holder’s 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 as provided in Subsection 2.4(e)) enter into an underwriting agreement in customary form with the underwriter(s) selected for such underwriting and reasonably satisfactory to the Holders holding a majority of the
Registrable Securities participating in such offering; provided, however, that the liability of each such Holder shall be several and not joint, and limited to an amount equal to the net proceeds from the offering received by such Holder.
Notwithstanding any other provision of this Subsection 2.3, if the managing underwriter(s) advise(s) the Initiating Holders in writing that marketing factors require a limitation on the number of shares to be underwritten, then the Initiating
Holders shall so advise all Holders of Registrable Securities that otherwise would be underwritten pursuant hereto, and the number of Registrable Securities that may be included in the underwriting shall be allocated among such Holders of
Registrable Securities, including the Initiating Holders, in proportion (as nearly as practicable) to the number of Registrable Securities owned by each Holder or in such other proportion as shall mutually be agreed to by all such selling Holders;
provided, however, that the number of Registrable Securities held by the Holders to be included in such underwriting shall not be reduced unless all other securities are first entirely excluded from the underwriting or the Holders of a
majority of the Registrable Securities otherwise consent thereto. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest
one hundred (100) shares. 
 (b) In connection with any offering involving an underwriting of shares of the Company’s capital
stock pursuant to Subsection 2.2, the Company shall not be required to include any of the Holders’ Registrable Securities in such underwriting unless the Holders accept the terms of the underwriting as agreed upon between the Company and
its underwriters, and then only in such quantity as the underwriters in their sole discretion determine will not jeopardize the success of the offering by the Company. If the total number of securities, including Registrable Securities, requested by
stockholders to be included in such offering exceeds the number of securities to be sold (other than by the Company) that the 

  
 7 

 
underwriters in their reasonable discretion determine is compatible with the success of the offering, then the Company shall be required to include in the offering only that number of such
securities, including Registrable Securities, which the underwriters and the Company in their sole discretion determine will not jeopardize the success of the offering. If the underwriters determine that less than all of the Registrable Securities
requested to be registered can be included in such offering, then the Registrable Securities that are included in such offering shall be allocated among the selling Holders in proportion (as nearly as practicable to) the number of Registrable
Securities owned by each selling Holder or in such other proportions as shall mutually be agreed to by all such selling Holders. To facilitate the allocation of shares in accordance with the above provisions, the Company or the underwriters may
round the number of shares allocated to any Holder to the nearest one hundred (100) shares. Notwithstanding the foregoing, in no event shall (i) the number of Registrable Securities included in the offering be reduced unless all other
securities (other than securities to be sold by the Company or by the Initiating Holders pursuant to Subsection 2.1) are first entirely excluded from the offering, (ii) in no event shall the number of Registrable Securities included in
the offering be reduced below twenty-five percent (25%) of the total number of securities included in such offering and (iii) in no event shall the number of Registrable Securities held by Holders who hold or will hold Common Stock then issued
or issuable upon conversion of any Series A Preferred Stock or Series B Preferred Stock be reduced without the consent of the holders of at least a majority of Registrable Securities, unless all other Registrable Securities are first entirely
excluded from the offering. For purposes of the provision in this Subsection 2.3(b) concerning apportionment, for any selling Holder that is a partnership, limited liability company, or corporation, the partners, members, retired partners,
retired members, stockholders, and Affiliates of such Holder, or the estates and Immediate Family Members of any such partners, retired partners, members, and retired members and any trusts for the benefit of any of the foregoing Persons, shall be
deemed to be a single “selling Holder,” and any pro rata reduction with respect to such “selling Holder” shall be based upon the aggregate number of Registrable Securities owned by all Persons included in such “selling
Holder,” as defined in this sentence. 
 (c) For purposes of Subsection 2.1, a registration shall not be counted as
“effected” if, as a result of an exercise of the underwriter’s cutback provisions in Subsection 2.3(a), fewer than fifty percent (50%) of the Registrable Securities that Holders have requested to be included in such
registration statement are actually included. 
 2.4 Obligations of the Company. Whenever required under this
Section 2 to effect the registration of any Registrable Securities, the Company shall, as expeditiously as reasonably possible: 

(a) prepare and file with the SEC a registration statement with respect to such Registrable Securities and use its commercially reasonable
efforts to cause such registration statement to become effective and, upon the request of the Holders of a majority of the Registrable Securities registered thereunder, keep such registration statement effective for a period of up to one hundred
twenty (120) days or, if earlier, until the distribution contemplated in the registration statement has been completed; provided, however, that (i) such one hundred twenty (120) day period shall be extended for a period
of time equal to the period the Holder refrains, at the request of an underwriter of Common Stock (or other securities) of the 

  
 8 

 
Company, from selling any securities included in such registration, and (ii) in the case of any registration of Registrable Securities on Form S-3
that are intended to be offered on a continuous or delayed basis, subject to compliance with applicable SEC rules, such one hundred twenty (120) day period shall be extended for up to one hundred twenty (120) days, if necessary, to keep
the registration statement effective until all such Registrable Securities are sold; 
 (b) prepare and file with the SEC 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 Securities Act in order to enable the disposition of all securities covered by such
registration statement; 
 (c) furnish to the selling Holders such numbers of copies of a prospectus, including a preliminary prospectus, as
required by the Securities Act, and such other documents as the Holders may reasonably request in order to facilitate their disposition of their Registrable Securities; 

(d) use its commercially reasonable efforts to register and qualify the securities covered by such registration statement under such other
securities or blue-sky laws of such jurisdictions as shall be reasonably requested by the selling Holders; provided that the Company shall not be required to qualify to do business or to file a general
consent to service of process in any such states or jurisdictions, unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act; 

(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 underwriter(s) of such offering; 
 (f) use its commercially reasonable efforts to cause all such Registrable
Securities covered by such registration statement to be listed on a national securities exchange or trading system and each securities exchange and trading system (if any) on which similar securities issued by the Company are then listed; 

(g) provide a transfer agent and registrar for all Registrable Securities registered pursuant to this Agreement and provide a CUSIP number for
all such Registrable Securities, in each case not later than the effective date of such registration; 
 (h) promptly make available for
inspection by the selling Holders, any managing underwriter(s) participating in any disposition pursuant to such registration statement, and any attorney or accountant or other agent retained by any such underwriter or selected by the selling
Holders, all financial and other records, pertinent corporate documents, and properties of the Company, and cause the Company’s officers, directors, employees, and independent accountants to supply all information reasonably requested by any
such seller, underwriter, attorney, accountant, or agent, in each case, as necessary or advisable to verify the accuracy of the information in such registration statement and to conduct appropriate due diligence in connection therewith; 

  
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 (i) notify each selling Holder, promptly after the Company receives notice thereof, of the
time when such registration statement has been declared effective or a supplement to any prospectus forming a part of such registration statement has been filed; and 

(j) after such registration statement becomes effective, notify each selling Holder of any request by the SEC that the Company amend or
supplement such registration statement or prospectus. 
 In addition, the Company shall ensure that, at all times after any registration
statement covering a public offering of securities of the Company under the Securities Act shall have become effective, its insider trading policy shall provide that the Company’s directors may implement a trading program under Rule 10b5-1 of the Exchange Act. 
 2.5 Furnish Information. It shall be a condition precedent to the
obligations of the Company to take any action pursuant to this Section 2 with respect to the Registrable Securities of any selling Holder that such Holder shall furnish to the Company such information regarding itself, the
Registrable Securities held by it, and the intended method of disposition of such securities as is reasonably required to effect the registration of such Holder’s Registrable Securities. 

2.6 Expenses of Registration. All expenses (other than Selling Expenses) incurred in connection with registrations, filings, or
qualifications pursuant to Section 2, including all registration, filing, and qualification fees; printers’ and accounting fees; fees and disbursements of counsel for the Company; and the reasonable fees and
disbursements, not to exceed $35,000, of one counsel for the selling Holders selected by the Holders of a majority of the Registrable Securities to be registered (“Selling Holder Counsel”), shall be borne and paid by the
Company; provided, however, that the Company shall not be required to pay for any expenses of any registration proceeding begun pursuant to Subsection 2.1 if the registration request is subsequently withdrawn at the request of
the Holders of a majority of the Registrable Securities to be registered (in which case all selling Holders shall bear such expenses pro rata based upon the number of Registrable Securities that were to be included in the withdrawn registration),
unless the Holders of a majority of the Registrable Securities agree to forfeit their right to one registration pursuant to Subsections 2.1(a) or 2.1(b), as the case may be; provided further that if, at the time of
such withdrawal, the Holders shall 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 and have withdrawn the request with reasonable
promptness after learning of such information then the Holders shall not be required to pay any of such expenses and shall not forfeit their right to one registration pursuant to Subsections 2.1(a) or 2.1(b). All Selling Expenses
relating to Registrable Securities registered pursuant to this Section 2 shall be borne and paid by the Holders pro rata on the basis of the number of Registrable Securities registered on their behalf, other than fees and
disbursements of counsel to any Holder (other than the Selling Holder Counsel), which shall be borne solely by the Holder engaging such counsel. 

  
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 2.7 Delay of Registration. No Holder shall have any right to obtain or seek an
injunction restraining or otherwise delaying any registration pursuant to this Agreement as the result of any controversy that might arise with respect to the interpretation or implementation of this Section 2. 

2.8 Indemnification. If any Registrable Securities are included in a registration statement under this
Section 2: 
 (a) To the extent permitted by law, the Company will indemnify and hold harmless each selling
Holder, and the partners, members, officers, directors, and stockholders of each such Holder; legal counsel and accountants for each such Holder; any underwriter (as defined in the Securities Act) for each such Holder; and each Person, if any, who
controls such Holder or underwriter within the meaning of the Securities Act or the Exchange Act, against any Damages, and the Company will pay to each such Holder, underwriter, controlling Person, or other aforementioned Person any legal or other
expenses reasonably incurred thereby in connection with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; provided, however, that the indemnity agreement contained in this
Subsection 2.8(a) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld, nor shall the Company
be liable for any Damages to the extent that they arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of any such Holder, underwriter, controlling Person, or
other aforementioned Person expressly for use in connection with such registration except to the extent such information was corrected in a subsequent writing delivered to the Company within a reasonable time prior to the sale of Registrable
Securities to the Person asserting the claim. 
 (b) To the extent permitted by law, each selling Holder, severally and not jointly, will
indemnify and hold harmless the Company, and each of its directors, each of its officers who has signed the registration statement, each Person (if any), who controls the Company within the meaning of the Securities Act, legal counsel and
accountants for the Company, any underwriter (as defined in the Securities Act), any other Holder selling securities in such registration statement, and any controlling Person of any such underwriter or other Holder, against any Damages, in each
case only to the extent that such Damages arise out of or are based upon actions or omissions made in reliance upon and in conformity with written information furnished by or on behalf of such selling Holder expressly for use in connection with such
registration which was not corrected in a subsequent writing delivered to the Company within a reasonable time prior to the sale of Registrable Securities to the Person asserting the claim; and each such selling Holder will pay to the Company and
each other aforementioned Person any legal or other expenses reasonably incurred thereby in connection with investigating or defending any claim or proceeding from which Damages may result, as such expenses are incurred; provided,
however, that the indemnity agreement contained in this Subsection 2.8(b) shall not apply to amounts paid in settlement of any such claim or proceeding if such settlement is effected without the consent of the Holder, which
consent shall not be unreasonably withheld; and provided further that in no event shall the aggregate amounts payable by any Holder by way of indemnity or contribution under Subsections 2.8(b) and 2.8(d) exceed the
proceeds from the offering received by such Holder (net of any Selling Expenses paid by such Holder), except in the case of fraud or willful misconduct by such Holder. 

  
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 (c) Promptly after receipt by an indemnified party under this Subsection 2.8
of notice of the commencement of any action (including any governmental action) for which a party may be entitled to indemnification hereunder, such indemnified party will, if a claim in respect thereof is to be made against any indemnifying
party under this Subsection 2.8, give the indemnifying party notice of the commencement thereof. The indemnifying party shall have the right to participate in such action and, to the extent the indemnifying party so desires, participate
jointly with any other indemnifying party to which notice has been given, and to assume the defense thereof with counsel mutually satisfactory to the parties; provided, however, that an indemnified party (together with all other
indemnified parties that may be represented without conflict by one counsel) shall have the right to retain one separate counsel, with the fees and expenses to be paid by the indemnifying party, if representation of such indemnified party by the
counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified party and any other party represented by such counsel in such action. The failure to give notice to the
indemnifying party within a reasonable time of the commencement of any such action shall relieve such indemnifying party of any liability to the indemnified party under this Subsection 2.8, only to the extent that such failure
(i) materially and irrevocably prejudices the indemnifying party’s ability to defend such action or (ii) results in a material increase in the amount of Damages for which indemnification is being sought. The failure to give notice to
the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Subsection 2.8. 

(d) To provide for just and equitable contribution to joint liability under the Securities Act in any case in which either: (i) any party
otherwise entitled to indemnification hereunder makes a claim for indemnification pursuant to this Subsection 2.8 but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the
expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case, notwithstanding the fact that this Subsection 2.8 provides for indemnification in such case, or
(ii) contribution under the Securities Act may be required on the part of any party hereto for which indemnification is provided under this Subsection 2.8, then, and in each such case, such parties will contribute to the aggregate
losses, claims, damages, liabilities, or expenses to which they may be subject (after contribution from others) in such proportion as is appropriate to reflect the relative fault of each of the indemnifying party and the indemnified party in
connection with the statements, omissions, or other actions that resulted in such loss, claim, damage, liability, or expense, as well as to reflect any other relevant equitable considerations. The relative fault of the indemnifying party and of the
indemnified party shall be determined by reference to, among other things, whether the untrue or allegedly untrue statement of a material fact, or the omission or alleged omission of a material fact, relates to information supplied by the
indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such statement or omission; provided, however, that, in any such case
(x) no Holder will be required to contribute any amount in excess of the public offering price of all such Registrable Securities offered and sold by such Holder pursuant to such registration statement,

  
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and (y) no Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any Person who was not guilty
of such fraudulent misrepresentation; and provided further that in no event shall a Holder’s liability pursuant to this Subsection 2.8(d), when combined with the amounts paid or payable by such Holder pursuant to
Subsection 2.8(b), exceed the proceeds from the offering received by such Holder (net of any Selling Expenses paid by such Holder), except in the case of willful misconduct or fraud by such Holder. 

(e) Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting
agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control; provided that in no event shall any indemnity obligations of any
Holder exceed the net proceeds from the offering received by such Holder. 
 (f) Unless otherwise superseded by an underwriting agreement
entered into in connection with the underwritten public offering, the obligations of the Company and Holders under this Subsection 2.8 shall survive the completion of any offering of Registrable Securities in a registration under this
Section 2, and otherwise shall survive the termination of this Agreement. 
 2.9 Reports Under Exchange
Act. With a view to making available to the Holders the benefits of SEC Rule 144 and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without registration or pursuant to
a registration on Form S-3, the Company shall: 
 (a) make and keep available adequate current
public information, as those terms are understood and defined in SEC Rule 144, at all times after the effective date of the registration statement filed by the Company for the IPO; 

(b) use commercially reasonable efforts to file with the SEC in a timely manner all reports and other documents required of the Company under
the Securities Act and the Exchange Act (at any time after the Company has become subject to such reporting requirements); and 
 (c)
furnish to any Holder, so long as the Holder owns any Registrable Securities, forthwith upon request (i) to the extent accurate, a written statement by the Company that it has complied with the reporting requirements of SEC Rule 144 (at any
time after ninety (90) days after the effective date of the registration statement filed by the Company for the IPO), the Securities Act, and the Exchange Act (at any time after the Company has become subject to such reporting requirements), or
that it qualifies as a registrant whose securities may be resold pursuant to Form S-3 (at any time after the Company so qualifies); (ii) a copy of the most recent annual or quarterly report of the Company and
such other reports and documents so filed by the Company; and (iii) such other information as may be reasonably requested in availing any Holder of any rule or regulation of the SEC that permits the selling of any such securities without
registration (at any time after the Company has become subject to the reporting requirements under the Exchange Act) or pursuant to Form S-3 (at any time after the Company so qualifies to use such form). 

  
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 2.10 Limitations on Subsequent Registration Rights. From and after the date of this
Agreement, the Company shall not, without the prior written consent of the Holders of a majority of the Registrable Securities then outstanding, enter into any agreement with any holder or prospective holder of any securities of the Company that
would (a) provide to such holder or prospective holder the right to include securities in any registration on other than either a pro rata basis with respect to the Registrable Securities or on a subordinate basis after all Holders have had the
opportunity to include in the registration and offering all shares of Registrable Securities that they wish to so include; or (b) allow such holder or prospective holder (i) to include such securities in any registration unless, under the
terms of such agreement, such holder or prospective holder may include such securities in any such registration only to the extent that the inclusion of such securities will not reduce the number of the Registrable Securities of the Holders that are
included or (ii) to initiate a demand for registration of any securities held by such holder or prospective holder; provided that this limitation shall not apply to Registrable Securities by any additional Investor who becomes a party to
this Agreement in accordance with Subsection 6.9. 
 2.11 “Market
Stand-off” Agreement. Each Holder hereby agrees that it will not, without the prior written consent of the managing underwriter, during the period commencing on the date of the
final prospectus relating to the registration by the Company for its own behalf of shares of its Common Stock or any other equity securities under the Securities Act on a registration statement on Form S-1 or Form S-3, and ending on the date specified by the Company and the managing underwriter (such period not to exceed one hundred eighty (180) days in the case of the IPO, or such other period as may be requested by the
Company or an underwriter to accommodate regulatory restrictions on (1) the publication or other distribution of research reports, and (2) analyst recommendations and opinions, including, but not limited to, the restrictions contained in
FINRA Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto), (i) lend; offer; pledge; sell; contract to sell; sell any option or contract to purchase; purchase any option or contract to sell; grant any option,
right, or warrant to purchase; or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable (directly or indirectly) for Common Stock held immediately
before the effective date of the registration statement for such IPO (and for the avoidance of doubt, specifically excluding any shares acquired in or following the IPO) or (ii) enter into any swap or other arrangement that transfers to
another, in whole or in part, any of the economic consequences of ownership of such securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or other securities, in cash, or
otherwise. The foregoing provisions of this Subsection 2.11 shall apply only to the IPO, shall not apply to the sale of any shares to an underwriter pursuant to an underwriting agreement, or to any shares purchased on or after the date
of the IPO, or the transfer of any shares to any trust for the direct or indirect benefit of the Holder or the immediate family of the Holder, provided that the trustee of the trust agrees to be bound in writing by the restrictions set forth
herein, and provided further that any such transfer shall not involve a disposition for value, and shall be applicable to the Holders only if all officers and directors are subject to the same restrictions and the Company uses
commercially reasonable efforts to obtain 

  
 14 

 
a similar agreement from all stockholders individually owning more than one percent (1%) of the Company’s outstanding Common Stock (after giving effect to conversion into Common Stock of all
outstanding Preferred Stock). The underwriters in connection with such registration are intended third-party beneficiaries of this Subsection 2.11 and shall have the right, power and authority to
enforce the provisions hereof as though they were a party hereto. Each Holder further agrees to execute such agreements as may be reasonably requested by the underwriters in connection with such registration that are consistent with this
Subsection 2.11 or that are necessary to give further effect thereto. Any discretionary waiver or termination of the restrictions of any or all of such agreements by the Company or the underwriters shall apply pro rata to all Company
stockholders that are subject to such agreements, based on the number of shares subject to such agreements. 
 Notwithstanding the
foregoing, for so long as either Perceptive (or its Affiliates) or RTW (or its Affiliates) own any Registrable Securities, in addition to any consent requirements described above in this Section or elsewhere in this Agreement, the obligations in
this Section 2.11 may only be amended, waived or terminated with the prior written consent of Perceptive and/or RTW, as applicable, with respect to any shares of the Company’s Common Stock that are (i) acquired in the IPO,
(ii) acquired in any of the Company’s public offerings that occur after the IPO or (iii) acquired in the open market at any time after the IPO, in each case, by such Holder and/or its Affiliates. 

2.12 Restrictions on Transfer. 

(a) The Preferred Stock and the Registrable Securities shall not be sold, pledged, or otherwise transferred, and the Company shall not
recognize and shall issue stop-transfer instructions to its transfer agent with respect to any such sale, pledge, or transfer, except upon the conditions specified in this Agreement, which conditions are intended to ensure compliance with the
provisions of the Securities Act. A transferring Holder will cause any proposed purchaser, pledgee, or transferee of the Preferred Stock and the Registrable Securities held by such Holder to agree to take and hold such securities subject to the
provisions and upon the conditions specified in this Agreement. 
 (b) Each certificate, instrument, or book entry representing (i) the
Series A Preferred Stock, (ii) the Series B Preferred Stock, (iii) the Registrable Securities, and (iv) any other securities issued in respect of the securities referenced in clauses (i), (ii) and (iii), upon any stock split, stock
dividend, recapitalization, merger, consolidation, or similar event, shall (unless otherwise permitted by the provisions of Subsection 2.12(c)) be notated with a legend substantially in the following form: 

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

  
 15 

 THE SECURITIES REPRESENTED HEREBY MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF AN
AGREEMENT BETWEEN THE COMPANY AND THE STOCKHOLDER, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY. 
 The Holders consent to
the Company making a notation in its records and giving instructions to any transfer agent of the Restricted Securities in order to implement the restrictions on transfer set forth in this Subsection 2.12. 

(c) The holder of such Restricted Securities, by acceptance of ownership thereof, agrees to comply in all respects with the provisions of this
Section 2. Before any proposed sale, pledge, or transfer of any Restricted Securities, unless there is in effect a registration statement under the Securities Act covering the proposed transaction, the Holder thereof shall
give notice to the Company of such Holder’s intention to effect such sale, pledge, or transfer. Each such notice shall describe the manner and circumstances of the proposed sale, pledge, or transfer in sufficient detail and, if reasonably
requested by the Company, 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 transaction may be effected without registration under the Securities Act; (ii) a “no action” letter from the SEC to the effect that the proposed sale, pledge, or transfer of such Restricted Securities without
registration will not result in a recommendation by the staff of the SEC that action be taken with respect thereto; or (iii) any other evidence reasonably satisfactory to counsel to the Company to the effect that the proposed sale, pledge, or
transfer of the Restricted Securities may be effected without registration under the Securities Act, whereupon the Holder of such Restricted Securities shall be entitled to sell, pledge, or transfer such Restricted Securities in accordance with the
terms of the notice given by the Holder to the Company. The Company will not require such a legal opinion or “no action” letter (x) in any transaction in compliance with SEC Rule 144; (y) any transaction in which RTW Investments, LP
distributes Restricted Securities to an investment fund for which it serves as investment advisor for consideration equal to or less than the aggregate purchase price paid by RTW Investments, LP under the Purchase Agreement; or (z) in any
transaction in which such Holder distributes Restricted Securities to an Affiliate of such Holder for no consideration; provided that each transferee agrees in writing to be subject to the terms of this Subsection 2.12. Each
certificate, instrument, or book entry representing the Restricted Securities transferred as above provided shall be notated with, except if such transfer is made pursuant to SEC Rule 144, the appropriate restrictive legend set forth in
Subsection 2.12(b), except that such certificate instrument, or book entry shall not be notated with such restrictive legend if, in the opinion of counsel for such Holder and the Company, such legend is not required in order to establish
compliance with any provisions of the Securities Act. 
 2.13 Termination of Registration Rights. The right of any Holder to request
registration or inclusion of Registrable Securities in any registration pursuant to Subsections 2.1 or 2.2 shall terminate upon the earliest to occur of (a) such time as Rule 144 or another similar exemption under the Securities
Act is available for the sale of all of such Holder’s shares without limitation during a three-month period without registration and (b) the fifth anniversary of the IPO. 

  
 16 

 3. Information and Observer Rights. 

3.1 Delivery of Financial Statements. The Company shall deliver to each Investor, provided that the Board of Directors has not
reasonably determined that such Investor is a competitor of the Company (provided that neither RTW, Perceptive nor their respective Affiliates shall be deemed a competitor of the Company hereunder): 

(a) as soon as practicable, but in any event within one hundred twenty (120) days after the end of each fiscal year of the Company
(i) a balance sheet as of the end of such year, (ii) statements of income and of cash flows for such year, and a comparison between (x) the actual amounts as of and for such fiscal year and (y) the comparable amounts for the
prior year and as included in the Budget (as defined in Subsection 3.1(e)) for such year, with an explanation of any material differences between such amounts and a schedule as to the sources and applications of funds for such year, and
(iii) a statement of stockholders’ equity as of the end of such year, all such financial statements audited and certified by independent public accountants of regionally recognized standing selected by the Company; 

(b) as soon as practicable, but in any event within forty-five (45) days after the end of each
quarter of each fiscal year of the Company, unaudited statements of income and cash flows for such fiscal quarter, and an unaudited balance sheet and a statement of stockholders’ equity as of the end of such fiscal quarter, all prepared in
accordance with GAAP (except that such financial statements may (i) be subject to normal year-end audit adjustments; and (ii) not contain all notes thereto that may be required in accordance with
GAAP); and a comparison of such quarterly statements against the applicable quarterly portion of the Budget (as defined below) for each such quarter each year; 

(c) as soon as practicable, but in any event within forty-five (45) days after the end of each quarter of each fiscal year of the
Company, a statement showing the number of shares of each class and series of capital stock and securities convertible into or exercisable for shares of capital stock outstanding at the end of the period, the Common Stock issuable upon conversion or
exercise of any outstanding securities convertible or exercisable for Common Stock and the exchange ratio or exercise price applicable thereto, and the number of shares of issued stock options and stock options not yet issued but reserved for
issuance, if any, all in sufficient detail as to permit the Investors to calculate their respective percentage equity ownership in the Company, and certified by the chief financial officer or chief executive officer of the Company as being true,
complete, and correct; 
 (d) as soon as practicable, but in any event within thirty (30) days of the end of each month, copies of
management financial accounts in the form prepared by Company management in the ordinary course of business; 
 (e) as soon as practicable,
but in any event thirty (30) days before the end of each fiscal year, a budget and business plan for the next fiscal year (collectively, the “Budget”), approved by the Board of Directors in accordance with Section 6.4, and
prepared on a monthly basis, including balance sheets, income statements, and statements of cash flow for such months and, promptly after prepared, any other budgets or revised budgets prepared by the Company; 

  
 17 

 (f) with respect to the financial statements called for in Subsection 3.1(a), (b) and
(d), an instrument executed by the chief financial officer and chief executive officer of the Company certifying that such financial statements were prepared in accordance with GAAP consistently applied with prior practice for earlier periods
(except as otherwise set forth in Subsection 3.1(b) and Subsection 3.1(d)) and fairly present the financial condition of the Company and its results of operation for the periods specified therein; and 

(g) such other information relating to the financial condition, business, prospects, or corporate affairs of the Company as any Investor may
from time to time reasonably request; provided, however, that the Company shall not be obligated under this Subsection 3.1 to provide information (i) that the Company reasonably determines in good faith to be a trade secret
or confidential information (unless covered by an enforceable confidentiality agreement, in a form acceptable to the Company); or (ii) the disclosure of which would adversely affect the attorney-client privilege between the Company and its
counsel. 
 If, for any period, the Company has any subsidiary whose accounts are consolidated with those of the Company, then in respect of
such period the financial statements delivered pursuant to the foregoing sections shall be the consolidated and consolidating financial statements of the Company and all such consolidated subsidiaries.

Notwithstanding anything else in this Subsection 3.1 to the contrary, the Company may cease providing the information set forth in this
Subsection 3.1 during the period starting with the date sixty (60) days before the Company’s good-faith estimate of the date of filing of a registration statement if it reasonably concludes it must do so to comply with the SEC rules
applicable to such registration statement and related offering; provided that the Company’s covenants under this Subsection 3.1 shall be reinstated at such time as the Company is no longer actively employing its commercially
reasonable efforts to cause such registration statement to become effective. 
 3.2 Inspection. The Company shall permit each Major
Investor (provided that the Board of Directors has not reasonably determined that such Major Investor is a competitor of the Company (provided that neither RTW, Perceptive nor their respective Affiliates shall be deemed a competitor of the
Company hereunder)), at such Major Investor’s expense, to visit and inspect the Company’s properties; examine its books of account and records; and discuss the Company’s affairs, finances, and accounts with its officers, during normal
business hours of the Company as may be reasonably requested by the Major Investor; provided, however, that the Company shall not be obligated pursuant to this Subsection 3.2 to provide access to any information that it
reasonably and in good faith considers to be a trade secret or confidential information (unless covered by an enforceable confidentiality agreement, in form acceptable to the Company) or the disclosure of which would adversely affect the
attorney-client privilege between the Company and its counsel. 

  
 18 

 3.3 Observer Rights. As long as RTW qualifies as a Major Investor, the
Company shall invite a representative of RTW to attend all meetings of the Board of Directors in a nonvoting observer capacity and, in this respect, shall give such representative copies of all notices, minutes, consents and other materials that it
provides to its directors at the same time and in the same manner as provided to such directors; provided, however, that such representative shall agree to hold in confidence and trust and to act in a fiduciary manner with respect to
all information so provided; and provided further, that the Company reserves the right to withhold any information and to exclude such representative from any meeting or portion thereof if access to such information or attendance at
such meeting could adversely affect the attorney-client privilege between the Company and its counsel or result in disclosure of trade secrets or a conflict of interest. 

3.4 Termination of Information and Observer Rights. The covenants set forth in Subsection 3.1, Subsection 3.2, and Subsection
3.3 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of 12(g) or 15(d) of the Exchange Act,
or (iii) upon a Deemed Liquidation Event, as such term is defined in the Company’s Certificate of Incorporation, whichever event occurs first. 

3.5 Confidentiality. Each Investor agrees that such Investor will keep confidential and will not disclose, divulge, or use for any
purpose (other than to monitor its investment in the Company) any confidential information obtained from the Company pursuant to the terms of this Agreement (including notice of the Company’s intention to file a registration statement), unless
such confidential information (a) is known or becomes known to the public in general (other than as a result of a breach of this Subsection 3.5 by such Investor), (b) is or has been independently developed or conceived by the Investor
without use of the Company’s confidential information, or (c) is or has been made known or disclosed to the Investor by a third party without a breach of any obligation of confidentiality such third party may have to the Company;
provided, however, that an Investor may disclose confidential information (i) to its attorneys, accountants, consultants, and other professionals to the extent necessary to obtain their services in connection with monitoring its
investment in the Company; (ii) to any prospective purchaser of any Registrable Securities from such Investor, if such prospective purchaser agrees to be bound by the provisions of this Subsection 3.5; (iii) to any existing or
prospective Affiliate, partner, member, stockholder, or wholly owned subsidiary of such Investor in the ordinary course of business, provided that such Investor informs such Person that such information is confidential and directs such Person
to maintain the confidentiality of such information; or (iv) as may otherwise be required by law, provided that the Investor promptly notifies the Company of such disclosure and takes reasonable steps to minimize the extent of any such
required disclosure. The Company understands and acknowledges that in the regular course of each of Perceptive’s and RTW’s business, each of Perceptive and RTW and any of their respective Affiliates and/or representatives currently may be
invested in, may invest in or may consider investments companies that have issued securities that are publicly traded (each, a “Public Company”). Accordingly, the Company covenants and agrees that before providing material non-public information about a Public Company (“Public Company Information”) to each of Perceptive and RTW, as applicable, the Company will use commercially reasonable efforts to provide prior
written notice to the compliance personnel at each of RTW or Perceptive, as 

  
 19 

 
applicable, describing such information in reasonable detail. The Company shall not disclose Public Company Information to Perceptive or RTW without written authorization from the applicable
compliance personnel, provided, however, that, the Company will be permitted to disclose agreements entered into with Public Companies in the ordinary course of business, such as routine customer, supplier, advertising and publishing agreements
without such written authorization. 
 4. Rights to Future Stock Issuances. 

4.1 Right of First Offer. Subject to the terms and conditions of this Subsection 4.1 and applicable securities laws, if the
Company proposes to offer or sell any New Securities, the Company shall first offer such New Securities to each Investor. An Investor shall be entitled to apportion the right of first offer hereby granted to it in such proportions as it deems
appropriate, among (i) itself, (ii) its Affiliates and (iii) its beneficial interest holders, such as limited partners, members or any other Person having “beneficial ownership,” as such term is defined in Rule 13d-3 promulgated under the Exchange Act, of such Investor (“Investor Beneficial Owners”); provided that each such Affiliate or Investor Beneficial Owner (x) is not a competitor
of the Company (provided that neither RTW, Perceptive nor their respective Affiliates shall be deemed a competitor of the Company hereunder) or FOIA Party, unless such party’s purchase of New Securities is otherwise consented to by the Board of
Directors, (y) agrees to enter into this Agreement and each of the Amended and Restated Voting Agreement and Amended and Restated Right of First Refusal and Co-Sale Agreement of even date herewith among
the Company, the Investors and the other parties named therein, as an “Investor” under each such agreement (provided that any competitor of the Company or FOIA Party shall not be entitled to any rights as an Investor or Major
Investor, as applicable, under Subsections 3.1, 3.2 and 4.1 hereof). 
 (a) Perceptive/RTW Right of First Offer.

 (i) The Company shall give notice (the “Perceptive/RTW Offer Notice”) to each of Perceptive and RTW, stating
(i) its bona fide intention to offer such New Securities, (ii) the number of such New Securities to be offered, and (iii) the price and terms, if any, upon which it proposes to offer such New Securities. 

(ii) By notification to the Company within twenty (20) days after the Perceptive/RTW Offer Notice is given, each of Perceptive or RTW may
elect to purchase or otherwise acquire, at the price and on the terms specified in the Perceptive/RTW Offer Notice, up to that portion of such New Securities which equals one and one-half (1.5) times the
proportion that the Common Stock then held by each of Perceptive and RTW (including all shares of Common Stock then issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of the Series A Preferred Stock, Series B Preferred
Stock, and any other Derivative Securities then held by each of Perceptive and RTW) bears to the total Common Stock of the Company then outstanding (assuming full conversion and/or exercise, as applicable, of all Series A Preferred Stock, Series B
Preferred Stock and other Derivative Securities then outstanding). The New Securities remaining after Perceptive and/or RTW exercise, waive or fail to timely exercise their right pursuant to this Subsection 4.1 shall be the “Remaining
New Securities”. 

  
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 (b) Remaining Investor Right of First Offer. 

(i) At the expiration of the twenty (20) day period described in Subsection 4.1(a)(ii), the Company shall promptly give notice
(the “Remaining Investor Offer Notice”) to each Investor besides Perceptive or RTW (the “Remaining Investors”), stating (i) its bona fide intention to offer such Remaining New Securities, (ii) the
number of such Remaining New Securities to be offered, and (iii) the price and terms, if any, upon which it proposes to offer such Remaining New Securities. 

(ii) By notification to the Company within twenty (20) days after the Remaining Investor Offer Notice is given, each Remaining Investor
may elect to purchase or otherwise acquire, at the price and on the terms specified in the Offer Notice, up to that portion of such Remaining New Securities which equals the proportion that the Common Stock then held by each such Remaining Investor
(including all shares of Common Stock then issuable (directly or indirectly) upon conversion and/or exercise, as applicable, of the Series A Preferred Stock, Series B Preferred Stock, and any other Derivative Securities then held by such Remaining
Investors) bears to the total Common Stock of the Company then outstanding (assuming full conversion and/or exercise, as applicable, of all Series A Preferred Stock, Series B Preferred Stock and other Derivative Securities then outstanding). 

(c) At the expiration of the twenty (20) day period described in Subsection 4.1(b)(ii), the Company shall promptly notify each
Investor that elects to purchase or acquire all the shares available to it under this Subsection 4.1 (each, a “Fully Exercising Investor”) of any other Investor’s failure to do likewise. During the ten (10) day
period commencing after the Company has given such notice, each Fully Exercising Investor may, by giving notice to the Company, elect to purchase or acquire, in addition to the number of shares specified above, up to that portion of the New
Securities for which Investors were entitled to subscribe but that were not subscribed for by the Investors which is equal to the proportion that the Common Stock issued and held, or issuable (directly or indirectly) upon conversion and/or exercise,
as applicable, of Series A Preferred Stock, Series B Preferred Stock and any other Derivative Securities then held, by such Fully Exercising Investor bears to the Common Stock issued and held, or issuable (directly or indirectly) upon conversion
and/or exercise, as applicable, of the Series A Preferred Stock, the Series B Preferred Stock and any other Derivative Securities then held, by all Fully Exercising Investors who wish to purchase such unsubscribed shares. The closing of any
sale pursuant to this Subsection 4.1(c) shall occur within the later of ninety (90) days of the date that the Offer Notice is given and the date of initial sale of New Securities pursuant to Subsection 4.1(c). 

(d) If all New Securities referred to in the Offer Notice are not elected to be purchased or acquired as provided in Subsection 4.1(b),
the Company may, during the ninety (90) day period following the expiration of the periods provided in Subsection 4.1(b), offer and sell the remaining unsubscribed portion of such New Securities to any Person or Persons at a price not
less than, and upon terms no more favorable to the offeree than, those 

  
 21 

 
specified in the Offer Notice. If the Company does not enter into an agreement for the sale of the New Securities within such period, or if such agreement is not consummated within thirty
(30) days of the execution thereof, the right provided hereunder shall be deemed to be revived and such New Securities shall not be offered unless first reoffered to the Investors in accordance with this Subsection 4.1. 

(e) Waiver of Preemptive Rights. If, in connection with any proposed issuance of New Securities by the Company, the holders of a
majority of the Registrable Securities then outstanding, including Perceptive and RTW, waive the rights of the Investors pursuant to this Section 4 and an Investor nevertheless subsequently purchases any portion of the New
Securities issued in the applicable transaction (such purchasing Investor, a “Participating Holder”), then Perceptive, Osage and RTW shall have the right to purchase a proportional number of the New Securities to be issued by the
Company in such transaction based on the pro rata purchase right of each Investor set forth in Section 4, assuming a transaction size determined based upon the amount purchased by the Participating Holder that invested the largest percentage in
such transaction. The rights granted pursuant to this Subsection 4.1(e) shall not include the right to the notice periods specified in the other provisions of this Section 4, and the waiver of such notice periods by
the holders of a majority of the Registrable Securities then outstanding, including Perceptive and RTW, shall be effective with respect to all Investors. Notwithstanding anything herein to the contrary, the Company shall give prompt notice of any
waiver hereunder to any party that did not consent in writing to such amendment or waiver, which notice shall include the anticipated closing date and instructions on how to participate in the proposed sale of New Securities. 

(f) The right of first offer in this Subsection 4.1 shall not be applicable to (i) Exempted Securities (as defined in the
Company’s Certificate of Incorporation) and (ii) shares of Common Stock issued in the IPO. 
 4.2 Termination. The
covenants set forth in Subsection 4.1 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, or (ii) upon a Deemed Liquidation Event, as such term is defined in the Company’s
Certificate of Incorporation, whichever event occurs first. 
 5. Right of First Negotiation. Perceptive Life Sciences Master Fund,
Ltd. and its Affiliates (“Perceptive Master Fund”), and RTW will each have a Right of First Negotiation (“ROFN”) with respect to any future debt financings by the Company. Accordingly, before entering into a debt
financing transaction (a “Debt Financing”) with any third party, the Company shall promptly notify Perceptive Master Fund and RTW in writing that it may pursue such a potential Debt Financing and Perceptive Master Fund and RTW shall
each have five (5) days from the receipt of such notice to provide the Company written notice that it desires to enter into good faith negotiations with the Company regarding the Debt Financing (the “ROFN Option”). If
Perceptive Master Fund and RTW do not provide written notice that it is exercising its ROFN Option within such five (5) day period, then the Company shall have no further obligation with respect to the ROFN Option and shall be free to negotiate
and enter into any Debt Financing with any third party. If Perceptive Master Fund or RTW properly exercises the ROFN Option as described above, then the Parties shall negotiate exclusively, reasonably and in

  
 22 

 
good faith concerning the terms of the Debt Financing for a period of thirty (30) days. If the parties do not execute and deliver an agreement with respect to the Debt Financing within such
thirty (30) day period, then the Company shall be free to negotiate and enter into any Debt Financing with any third party; provided that if such third party transaction is, when taken as a whole, materially and substantially less favorable to
the Company than the terms last offered to the Company by Perceptive Master Fund or RTW, then the Company will provide written notice describing and offering Perceptive Master Fund and RTW such Debt Financing for a period of five (5) days
(after Perceptive Master Fund’s and RTW’s receipt of such notice) before entering such Debt Financing with a third party. If Perceptive Master Fund or RTW elects to pursue such Debt Financing, it shall deliver written notice to the Company
within such 5-day period, and the parties will proceed to negotiate and finalize definitive agreements. This Subsection 5 shall automatically terminate and be of no further force or effect (a) upon the
earlier of (i) the consummation of any Deemed Liquidation Event (as defined in the Restated Certificate) or (ii) the consummation of the Company’s first underwritten public offering of its Common Stock, or (b) with respect to a
Purchaser, if such Purchaser no long qualifies as a Major Investor (as defined in the Investor’s Rights Agreement). 
 6. Additional
Covenants. 
 6.1 Insurance. The Company shall use its commercially reasonable efforts to maintain a Directors and Officers
liability insurance and obtain, within ninety (90) days of the date hereof, term “key-person” insurance on Josep Bassaganya-Riera, from financially sound and reputable insurers each in an amount
and on terms and conditions satisfactory to the Board of Directors, and will use commercially reasonable efforts to cause such insurance policies to be maintained until such time as the Board of Directors, including the Series B Director and at
least one (1) Series A Director, determines that such insurance should be discontinued. The key-person policy shall name the Company as loss payee, and neither policy shall be cancelable by the Company
without prior approval by the Board of Directors including the Series B Director and at least one (1) Series A Director. Notwithstanding any other provision of this Section 6.1 to the contrary, for so long as a Series
A Director or a Series B Director is serving on the Board of Directors, the Company shall not cease to maintain a Directors and Officers liability insurance policy in an amount of at least three (3) million dollars unless approved by the Series
B Director and at least one (1) Series A Director, or if there is no Series B Director serving on the board, then by at least one (1) Series A Director, and the Company shall annually, within one hundred twenty (120) days after the
end of each fiscal year of the Company, deliver to RTW and Perceptive a certification that such a Directors and Officers liability insurance policy remains in effect. 

6.2 Employee Agreements. Unless otherwise agreed by the board of directors of the Company, including the Series B Director and at least
one Series A Director, the Company will cause (i) each person now or hereafter employed by it or by any subsidiary (or engaged by the Company or any subsidiary as a consultant/independent contractor) with access to confidential information
and/or trade secrets to enter into a nondisclosure and proprietary rights assignment agreement and a one (1) year noncompetition and nonsolicitation agreement, substantially in the form approved by the Board of Directors; and (ii) the
Company shall negotiate in good faith with Josep Bassaganya-Riera to enter into a two (2) year employment 

  
 23 

 
agreement with such customary terms as the Company, RTW and Perceptive approve, for Josep Bassaganya-Riera to serve as the Chairman of the Board, President and Chief Executive Officer of the
Company. In addition, the Company shall not amend, modify, terminate, waive, or otherwise alter, in whole or in part, any of the above-referenced agreements or any restricted stock agreement between the Company and any employee, without the consent
of at least one Series A Director and the Series B Director. 
 6.3 Employee Stock. Unless otherwise approved by the Board of
Directors, including the Series B Director and at least one Series A Director, all future employees and consultants of the Company who purchase, receive options to purchase, or receive awards of shares of the Company’s capital stock after the
date hereof shall be required to execute restricted stock or option agreements, as applicable, providing for (i) vesting of shares over a four (4) year period, with the first twenty-five percent (25%) of such shares vesting following
twelve (12) months of continued employment or service, and the remaining shares vesting in equal monthly installments over the following thirty-six (36) months, and (ii) a market stand-off provision substantially similar to that in Subsection 2.11. In addition, unless otherwise approved by the Board of Directors, including the Series B Director and at least one (1) Series A
Director, the Company shall retain a “right of first refusal” on employee transfers until the Company’s IPO and shall have the right to repurchase unvested shares at cost upon termination of employment of a holder of restricted
stock. 
 6.4 Matters Requiring Investor Director Approval. So long as the holders of Series A Preferred Stock are entitled to elect a
Series A Director or the holders of Series B Preferred Stock are entitled to elect a Series B Director, the Company hereby covenants and agrees with each of the Investors that it shall not, without approval of the Board of Directors, which approval
must include the affirmative vote of the Series B Director and at least one (1) Series A Director: 
 (a) make, or permit any
subsidiary to make, any loan or advance to, or own any stock or other securities of, any subsidiary or other corporation, partnership, or other entity unless it is wholly owned by the Company; 

(b) make, or permit any subsidiary to make, any loan or advance to any Person, including, without limitation, any employee or director of the
Company or any subsidiary in excess of $100,000, except advances and similar expenditures in the ordinary course of business or under the terms of an employee stock or option plan approved by the Board of Directors, in accordance with this
Section 6.4; 
 (c) guarantee, directly or indirectly, or permit any subsidiary to guarantee, directly or indirectly, any indebtedness
except for trade accounts of the Company or any subsidiary arising in the ordinary course of business; 
 (d) make any investment
inconsistent with any investment policy approved by the Board of Directors; 

  
 24 

 (e) incur any indebtedness in excess of $500,000 that is not already included in the Budget
approved by the Board of Directors, other than trade credit incurred in the ordinary course of business and a line of credit for working capital; 

(f) enter into any transaction with any director, officer, or employee of the Company or an “associate” (as defined in Rule 12b-2 promulgated under the Exchange Act) of any such Person, including without limitation any “management bonus” or similar plan providing payments to employees in connection with a Deemed Liquidation
Event, as such term is defined in the Company’s Certificate of Incorporation, except for transactions contemplated by this Agreement, or the Purchase Agreement; 

(g) hire, terminate, or change the compensation of the executive officers (namely the CEO, CBO, CSO, CFO, COO and CMO), including approving
any option grants or stock awards to executive officers; 
 (h) change the principal business of the Company, enter new lines of business,
or exit the current line of business; 
 (i) sell, assign, license, pledge, or encumber material technology or intellectual property, other
than licenses granted in the ordinary course of business, or permit any subsidiary to sell, assign, license, pledge or encumber material technology or intellectual property of such subsidiary, other than licenses granted in the ordinary course of
business; 
 (j) enter into any corporate strategic relationship involving the payment, contribution, or assignment by the Company or to the
Company of money or assets greater than $500,000; 
 (k) make any capital expenditure in excess of $500,000 that is not already included in
the Budget, other than trade credit incurred in the ordinary course of business; 
 (l) grant any stock option or stock equivalent providing
for vesting provisions that differ from the vesting schedule described in Subsection 6.3 or acceleration of vesting upon a change of control of the Company, sale of all or substantially all of the assets of the Company, termination or similar
event; 
 (m) increase the number of shares reserved for issuance under the Company’s equity incentive plans, except for such equity
incentive plan to be adopted following the date hereof pursuant to which the Company will reserve an aggregate number of shares of Common Stock for issuance in an amount equal to ten percent (10%) of the fully-diluted capital of the Company as of
immediately following the consummation of the transactions contemplated by the Purchase Agreement; 
 (n) create or dissolve any committee
of the Board of Directors; 

  
 25 

 (o) make any change to the Company’s independent accountants; 

(p) acquire any corporation, partnership, or other entity (whether by stock or asset purchase, merger, consolidation or otherwise) or any
equity or securities therein; 
 (q) approve the Budget; or 

(r) change the location of the Company’s executive offices. 

6.5 Board Matters. Unless otherwise determined by the vote of a majority of the directors then in office, the Board of Directors shall
meet at least quarterly in accordance with an agreed-upon schedule. The Company shall reimburse the nonemployee directors and observers for all reasonable out-of-pocket
travel expenses incurred, including airfare (consistent with the Company’s travel policy), when acting on behalf of and with the approval of the Company, including in connection with attending meetings of the Board of Directors. The Company
shall cause to be established, as soon as practicable after such request, and will maintain, an audit and compensation committee, each of which shall consist solely of non-management
directors.    The Series B Director and at least one Series A Director shall each have the right to be members of the audit and compensation committees of the Board. The Series B Director, at least one Series A Director and the
Common Stock Director shall each have the right to be members of all other committees of the Board as may be established from time to time. 

6.6 Successor Indemnification. If the Company or any of its successors or assignees consolidates with or merges into any other Person
and is not the continuing or surviving corporation or entity of such consolidation or merger, then to the extent necessary, proper provision shall be made so that the successors and assignees of the Company assume the obligations of the Company with
respect to indemnification of members of the Board of Directors as in effect immediately before such transaction, whether such obligations are contained in the Company’s Bylaws, its Certificate of Incorporation, or elsewhere, as the case may
be. 
 6.7 Expenses of Counsel. In the event of a transaction which is a Sale of the Company (as defined in the Amended and Restated
Voting Agreement of even date herewith among the Investors and the Company), the reasonable fees and disbursements of one counsel for the Major Investors (“Investor Counsel”), in their capacities as stockholders, shall be borne and
paid by the Company. At the outset of considering a transaction which, if consummated would constitute a Sale of the Company, the Company shall obtain the ability to share with the Investor Counsel (and such counsel’s clients) and shall share
the confidential information (including, without limitation, the initial and all subsequent drafts of memoranda of understanding, letters of intent and other transaction documents and related noncompete, employment, consulting and other compensation
agreements and plans) pertaining to and memorializing any of the transactions which, individually or when aggregated with others would constitute the Sale of the Company. The Company shall be obligated to share (and cause the

  
 26 

 
Company’s counsel and investment bankers to share) such materials when distributed to the Company’s executives and/or any one or more of the other parties to such transaction(s). In the
event that Investor Counsel deems it appropriate, in its reasonable discretion, to enter into a joint defense agreement or other arrangement to enhance the ability of the parties to protect their communications and other reviewed materials under the
attorney client privilege, the Company shall, and shall direct its counsel to, execute and deliver to Investor Counsel and its clients such an agreement in form and substance reasonably acceptable to Investor Counsel. In the event that one or more
of the other party or parties to such transactions require the clients of Investor Counsel to enter into a confidentiality agreement and/or joint defense agreement in order to receive such information, then the Company shall share whatever
information can be shared without entry into such agreement and shall, at the same time, in good faith work expeditiously to enable Investor Counsel and its clients to negotiate and enter into the appropriate agreement(s) without undue burden to the
clients of Investor Counsel 
 6.8 Indemnification Matters. The Company shall enter into and use its best efforts at all times to
maintain an indemnification agreement with each member of the Board in a form mutually acceptable to the Company and to such director in order to indemnify such director to the maximum extent permissible under applicable law. The Company hereby
acknowledges that one (1) or more of the directors nominated to serve on the Board of Directors by the Investors (each a “Fund Director”) may have certain rights to indemnification, advancement of expenses and/or insurance
provided by one or more of the Investors and certain of their affiliates (collectively, the “Fund Indemnitors”). The Company hereby agrees (a) that it is the indemnitor of first resort (i.e., its obligations to any
such Fund Director are primary and any obligation of the Fund Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by such Fund Director are secondary), (b) that it shall be required to advance
the full amount of expenses incurred by such Fund Director and shall be liable for the full amount of all expenses, judgments, penalties, fines and amounts paid in settlement by or on behalf of any such Fund Director to the extent legally permitted
and as required by the Company’s Certificate of Incorporation or Bylaws of the Company (or any agreement between the Company and such Fund Director), without regard to any rights such Fund Director may have against the Fund Indemnitors, and,
(c) that it irrevocably waives, relinquishes and releases the Fund Indemnitors from any and all claims against the Fund Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. The Company further
agrees that no advancement or payment by the Fund Indemnitors on behalf of any such Fund Director with respect to any claim for which such Fund Director has sought indemnification from the Company shall affect the foregoing and the Fund Indemnitors
shall have a right of contribution and/or be subrogated to the extent of such advancement or payment to all of the rights of recovery of such Fund Director against the Company. The Fund Directors and Fund Indemnitors are intended third-party
beneficiaries of this Subsection 6.8 and shall have the right, power and authority to enforce the provisions of this Subsection 6.8 as though they were a party to this Agreement. 

  
 27 

 6.9 Right to Conduct Activities. The Company hereby agrees and
acknowledges that each Investor (together with each of their respective Affiliates) is a professional investment fund, and as such invest in numerous portfolio companies, some of which may be deemed competitive with the Company’s
business (as currently conducted or as currently propose to be conducted). Nothing in this Agreement shall preclude or in any way restrict such Investors from evaluating or purchasing securities, including publicly traded securities, of a
particular enterprise, or investing or participating in any particular enterprise whether or not such enterprise has products or services which compete with those of the Company; and the Company hereby agrees that, to the extent permitted under
applicable law, none of the Investors nor any of their respective Affiliates shall be liable to the Company for any claim arising out of, or based upon, (i) the investment by any of the Investors or any of their respective Affiliates in
any entity competitive with the Company, or (ii) actions taken by any partner, officer or other representative of any of the Investors or any of their respective Affiliates to assist any such competitive company, whether or not such action was
taken as a member of the board of directors of such competitive company or otherwise; provided, however, that the foregoing shall not relieve (x) any of the Investors from liability associated with the unauthorized disclosure of the
Company’s confidential information obtained pursuant to this Agreement, or (y) any director or officer of the Company from any liability associated with his or her fiduciary duties to the Company. 

6.10 FCPA. The Company represents that it shall not (and shall not permit any of its subsidiaries or affiliates or any of its or
their respective directors, officers, managers, employees, independent contractors, representatives or agents to) promise, authorize or make any payment to, or otherwise contribute any item of value to, directly or indirectly, to any third party,
including any Non-U.S. Official (as (as such term is defined in the U.S. Foreign Corrupt Practices Act of 1977, as amended (the “FCPA”)), in each case, in violation of the FCPA, the U.K.
Bribery Act, or any other applicable anti-bribery or anti-corruption law. The Company further represents that it shall (and shall cause each of its subsidiaries and affiliates to) cease all of its or their respective activities, as well as remediate
any actions taken by the Company, its subsidiaries or affiliates, or any of their respective directors, officers, managers, employees, independent contractors, representatives or agents in violation of the FCPA, the U.K. Bribery Act, or any other
applicable anti-bribery or anti-corruption law. The Company further represents that it shall (and shall cause each of its subsidiaries and affiliates to) maintain systems of internal controls (including, but not limited to, accounting systems,
purchasing systems and billing systems) to ensure compliance with the FCPA, the U.K. Bribery Act, or any other applicable anti-bribery or anti-corruption law. Upon request, the Company agrees to provide responsive information and/or
certifications concerning its compliance with applicable anti-corruption laws. The Company shall promptly notify each Investor if the Company becomes aware of any Enforcement Action (as defined in the Purchase Agreement). The Company
shall, and shall cause any direct or indirect subsidiary or entity controlled by it, whether now in existence or formed in the future, to comply with the FCPA. The Company shall use its best efforts to cause any direct or indirect subsidiary,
whether now in existence or formed in the future, to comply in all material respects with all applicable laws. 
 6.11 Termination of
Covenants. The covenants set forth in this Section 5, except for Subsections 6.6-6.9, shall terminate and be of no further force or effect (i) immediately before the consummation of the
IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon a Deemed Liquidation Event, as such term is defined in the Company’s Certificate
of Incorporation, whichever event occurs first. 

  
 28 

 7. Miscellaneous. 

7.1 Successors and Assigns. The rights under this Agreement may be assigned (but only with all related obligations) by a Holder
to a transferee of Registrable Securities that (i) is an Affiliate of a Holder; (ii) is a Holder’s Immediate Family Member or trust for the benefit of an individual Holder or one or more of such Holder’s Immediate Family Members;
or (iii) after such transfer, holds at least 2% of the total Registrable Securities (subject to appropriate adjustment for stock splits, stock dividends, combinations, and other recapitalizations); provided, however, that
(x) the rights pursuant to sections 3, 4, 5, and 6 of this Agreement shall only be assigned pursuant to clause (i) and (ii), (y) the Company is, within a reasonable time after such transfer, furnished with written notice of the name and
address of such transferee and the Registrable Securities with respect to which such rights are being transferred; and (z) such transferee agrees in a written instrument delivered to the Company to be bound by and subject to the terms and
conditions of this Agreement, including the provisions of Subsection 2.11. For the purposes of determining the number of shares of Registrable Securities held by a transferee, the holdings of a transferee (1) that is an Affiliate or
stockholder of a Holder; (2) who is a Holder’s Immediate Family Member; or (3) that is a trust for the benefit of an individual Holder or such Holder’s Immediate Family Member shall be aggregated together and with those of the
transferring Holder; provided further that all transferees who would not qualify individually for assignment of rights shall have a single attorney-in-fact
for the purpose of exercising any rights, receiving notices, or taking any action under this Agreement. The terms and conditions of this Agreement inure to the benefit of and are binding upon the respective successors and permitted assignees of the
parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and permitted assignees any rights, remedies, obligations or liabilities under or by reason of
this Agreement, except as expressly provided herein. 
 7.2 Governing Law. This Agreement shall be governed by the internal law of
the State of Delaware, without regard to conflict of law principles that would result in the application of any law other than the law of the State of Delaware. 

7.3 Counterparts. This Agreement may be executed in two (2) or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g.,
www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.  

7.4 Titles and Subtitles. The titles and subtitles used in this Agreement are for convenience only and are not to be considered in
construing or interpreting this Agreement. 

  
 29 

 7.5 Notices. All notices and other communications given or made pursuant to this
Agreement shall be in writing and shall be deemed effectively given upon the earlier of actual receipt or (i) personal delivery to the party to be notified; (ii) when sent, if sent by electronic mail or facsimile during the
recipient’s normal business hours, and if not sent during normal business hours, then on the recipient’s next business day; (iii) five (5) days after having been sent by registered or certified mail, return receipt requested, postage
prepaid; or (iv) one (1) business day after the business day of deposit with a nationally recognized overnight courier, freight prepaid, specifying next-day delivery, with written verification of receipt.
All communications shall be sent to the respective parties at their addresses as set forth on Schedule A hereto, or to the principal office of the Company and to the attention of the Chief Executive Officer, in the case of the Company, or to
such email address, facsimile number, or address as subsequently modified by written notice given in accordance with this Subsection 7.5. If notice is given to the Company, a copy shall also be sent to Covington & Burling, 620 Eighth
Avenue, New York, New York 10018, Attn: Eric Blanchard, Esq. and Joseph Gangitano, Esq. and if notice is given to the Investors, a copy shall also be sent to Tannenbaum Helpern Syracuse & Hirschtritt LLP, 900 Third Avenue, New York, NY
10022, Attn: David R. Lallouz, Esq. and Wilson Sonsini Goodrich & Rosati, 28 State Street, 37th Floor, Boston, Massachusetts 02109-5703, Attn: Jennifer Fang, Esq. 

7.6 Amendments and Waivers. Any term of this Agreement may be amended, modified or terminated and the observance of any term of this
Agreement may be waived (either generally or in a particular instance, and either retroactively or prospectively) only with the written consent of the Company and the holders of a majority of the Registrable Securities then outstanding, including
Perceptive and RTW; provided that any provision hereof may be waived by any waiving party on such party’s own behalf, without the consent of any other party. Notwithstanding the foregoing, this Agreement may not be amended, modified or
terminated and the observance of any term hereof may not be waived with respect to any Investor without the written consent of such Investor, unless such amendment, modification, termination, or waiver applies to all Investors in the same fashion
(it being agreed that a waiver of the provisions of Section 4 with respect to a particular transaction shall be deemed to apply to all Investors in the same fashion if such waiver does so by its terms, notwithstanding the
fact that certain Investors may nonetheless, by agreement with the Company, purchase securities in such transaction). The Company shall give prompt notice of any amendment, modification or termination hereof or waiver hereunder to any party hereto
that did not consent in writing to such amendment, modification, termination, or waiver. Any amendment, modification, termination, or waiver effected in accordance with this Subsection 7.6 shall be binding on all parties hereto, regardless of
whether any such party has consented thereto. No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such term,
condition, or provision. 
 7.7 Severability. In case any one or more of the provisions contained in this Agreement is for any reason
held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this Agreement, and such invalid, illegal, or unenforceable provision shall be reformed and
construed so that it will be valid, legal, and enforceable to the maximum extent permitted by law. 
 7.8 Aggregation of Stock. All
shares of Registrable Securities held or acquired by Affiliates shall be aggregated together for the purpose of determining the availability of any rights under this Agreement and such affiliated persons may apportion such rights as among themselves
in any manner they deem appropriate. 

  
 30 

 7.9 Additional Investors. Notwithstanding anything to the contrary contained herein,
if the Company issues additional shares of the Company’s Series B Preferred Stock after the date hereof, any purchaser of such shares of Series B Preferred Stock may become a party to this Agreement by executing and delivering an additional
counterpart signature page to this Agreement, and thereafter shall be deemed an “Investor” for all purposes hereunder and the Company shall update Schedule A to reflect the name and address of such purchaser. No action or consent by
the Investors shall be required for such joinder to this Agreement by such additional Investor, so long as such additional Investor has agreed in writing to be bound by all of the obligations as an “Investor” hereunder. 

7.10 Entire Agreement. This Agreement (including any Schedules and Exhibits hereto), together with the other Transaction Documents,
constitutes the full and entire understanding and agreement among the parties with respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties is expressly
canceled. Upon the effectiveness of this Agreement, the Prior Agreement shall be deemed amended and restated and superseded and replaced in its entirety by this Agreement, and shall be of no further force or effect. 

7.11 Dispute Resolution. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the state courts of
Delaware and to the jurisdiction of the United States District Court for the District of Delaware for the purpose of any suit, action or other proceeding arising out of or based upon this Agreement, (b) agree not to commence any suit, action or
other proceeding arising out of or based upon this Agreement except in the state courts of Delaware or the United States District Court for the District of Delaware, and (c) hereby waive, and agree not to assert, by way of motion, as a
defense, or otherwise, in any such suit, action or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the suit, action or
proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court. 

WAIVER OF JURY TRIAL: EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS AGREEMENT,
THE OTHER TRANSACTION DOCUMENTS, THE SECURITIES OR THE SUBJECT MATTER HEREOF OR THEREOF. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND
THAT RELATE TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE), BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY
EACH OF THE PARTIES HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND
VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. 

  
 31 

 Each party will bear its own costs in respect of any disputes arising under this Agreement.
The prevailing party shall be entitled to reasonable attorney’s fees, costs, and necessary disbursements in addition to any other relief to which such party may be entitled. Each of the parties to this Agreement consents to personal
jurisdiction for any equitable action sought in the U.S. District Court for the District of Delaware or any court of the State of Delaware having subject matter jurisdiction. 

7.12 Delays or Omissions. No delay or omission to exercise any right, power, or remedy accruing to any party under this Agreement, upon
any breach or default of any other party under this Agreement, shall impair any such right, power, or remedy of such nonbreaching or nondefaulting party, nor shall it be construed to be a waiver of or acquiescence to any such breach or default, or
to any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. All remedies, whether under this Agreement or by law
or otherwise afforded to any party, shall be cumulative and not alternative. 
 7.13 Acknowledgement. The Company acknowledges that
the Investors are in the business of venture capital investing and therefore review the business plans and the related proprietary information of many enterprises, including enterprises which may have products or services which compete directly or
indirectly with those of the Company. Nothing in this Agreement shall preclude or in any way restrict the Investors from investing or participating in any particular enterprise whether or not such enterprise has products or services which compete
with those of the Company. 
 7.14 Further Assurances. At any time or from time to time after the date hereof, the parties agree to
cooperate with each other, and at the request of any other party, to execute and deliver any further instruments or documents and to take all such further action as the other party may reasonably request in order to evidence or effectuate the
consummation of the transactions contemplated hereby and to otherwise carry out the intent of the parties hereunder. 
 [Remainder of Page
Intentionally Left Blank] 

  
 32 

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

			
	LANDOS BIOPHARMA, INC.
		
	By:	 	
                     
                                        

	Name:	 	  

	Title:	 	  

 SCHEDULE A 

Investors 
 Perceptive Life Sciences Master
Fund, Ltd. 
 c/o Perceptive Advisors, LLC 
 51 Astor Place, 10th Floor 
 New York, NY 10003 

Perceptive Xontogeny Venture Fund, L.P. 
 c/o Perceptive
Advisors, LLC 
 51 Astor Place, 10th Floor 

New York, NY 10003 
 RTW Master Fund, Ltd. 

412 West 15th Street, Floor 9 

New York, NY 10011 
 RTW Innovation Master Fund, Ltd. 

412 West 15th Street, Floor 9 

New York, NY 10011 
 RTW Special Purpose Fund I, LLC 

412 West 15th Street, Floor 9 

New York, NY 10011 
 Osage University Partners III, LP 

50 Monument Road, Suite 201 
 Bala Cynwyd, PA 19004 

PX Venture (A), LLC 
 c/o Perceptive Advisors 

51 Astor Place, 10th Floor 

New York, NY 10003 
 Helicase Venture Fund I, L.P. 

c/o Helicase Venture 
 One Beacon Street, 15th Floor 
 Boston, MA 02108 

BKB Growth Investments, LLC 
 c/o Tiger Lily Capital, LLC 

200 Garrett Street, Suite O 
 Charlottesville, VA 22902 

 PD Joint Holdings, LLC Series 2016-A 

c/o Tiger Lily Capital, LLC 
 200 Garrett Street, Suite O 

Charlottesville, VA 22902

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